. This paper provides a new way of assessing the credibility of monetary policy by analyzing the dispersion of inflation …-unemployment observations over time. In this way, we may reveal whether the short run Phillips curves have shifted due to changes in inflation … expectations. This way of analyzing the anchoring of inflation expectations is both simple and free from ambiguities that are …

competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal in …

The dependency on imported essential production inputs poses a threat of abrupt price hikes and shortages, potentially … demand due to the subsidy does not significantly influence the price of the essential production input. If it does, this … to firms. The effectiveness of these policies ultimately hinges on their impact on the price of the imported input. …

Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …

. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …