countries. Much of the literature focusses on the impact of monetary policy on inflation levels and inflation volatility, and … but may have some impact on inflation. Although there is much discussion about the merits of keeping inflation levels and … volatility low, there is very little literature on studying the impact of low rates of steady inflation on the levels of private …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …

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. …

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 …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

influence on the price level and the inflation rate, respectively. Finally, the analysis suggests that financial market …