and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …. -- inflation ; unemployment ; search-matching ; Friedman rule …

not efficient. Inflation is detrimental to unemployment. …

" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this "persistency … equilibrium setting (in which real variables not only affect inflation, but are also influenced by it), standard wage …

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices. …

associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage … coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …