mandate of price stability in the current low-inflation, low-interest-rate scenario. This paper contributes to the existing … anchoring of inflation expectations. I carry out my analysis based on a high-frequency identification and the estimation of a … forward guidance, i.e. forecasters revise their long-run expectations upwards. Consequently, inflation increases, which …

play an important role for the transmission of monetary policy shocks to the rate of inflation. Our results are robust with …This paper empirically investigates the role of long-term inflation expectations for the monetary transmission … mechanism. In contrast to earlier studies, we confirm that U.S. long-term inflation expectations respond significantly to a …

in the data generating process the volatilities of the structural shocks are constant across policy regimes …. -- Great inflation ; passive policy ; break tests ; vector autoregressions …

fiscal stance and inflation using crosscountry data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …

sources of temporary fluctuations in the level of economic activity for both subsamples; and d) exogenous shocks to the … exchange rate and to the medium term interest rate are for the 1999-2004 period, the most important sources of inflation rate …

A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose … a new focus: incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these … exchange rates and prices depends on the shocks which cause the exchange rate to move. Then we develop an SVAR framework for a …

This paper uses a "trendy" approach to understand UK inflation dynamics. It focuses on the time series to isolate a low …-frequency and slow-moving component of inflation (the trend) from deviations around this trend. We find that this slow-moving trend … explains a substantial share of UK inflation dynamics. International prices are significantly correlated with the short …

. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate … in pass-through across countries, but also over time. The "shocks" leading to exchange rate movements can also explain … variations in pass through over time. For example, exchange rate movements caused by monetary policy shocks consistently …