out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …

is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … bias in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then … future inflation can provide insurance against the materialization of such upside risks …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat (especially for …

reaching favourable macroeconomic outcomes (i.e. recovering pandemic output losses and bringing inflation close to the ECB …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat (especially for …

This paper formalizes the process of updating the nowcast and forecast on output and inflation as new releases of data … Philadelphia surveys have a large marginal impact on the nowcast of both inflation variables and real variables and this effect is … sizeable. Prices and quantities affect the precision of the estimates of inflation while GDP is only affected by real variables …