monetary and credit aggregates are very often selected among the top predictors of inflation, with their predictive power … and credit variables in forecasting inflation, even if their information content is diluted in a much broader pool of …

indicators in predicting euro area HICP inflation out-of-sample over the period first quarter 1999 till third quarter 2006 …

1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests … that the Bundesbank – which is near-universally credited for sparing West Germany the Great Inflation – would also not have … been able to prevent the Great Inflation in the United States. The sheer implausibility of this result sounds a cautionary …

How long does it take for exchange rate changes to pass through into inflation? Does it make a difference whether the …

striking negative correlation between the evolution of the long-run coefficient on inflation in the monetary rule and the … evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

We use a Bayesian time-varying parameters structural VAR with stochastic volatility for GDP deflator inflation, real … Inflation was due, to a dominant extent, to large demand non-policy shocks, and to a lesser extent - especially in 1973 and 1979 … difference in terms of inflation and output growth outcomes; and (3) mechanically 'bringing the Monetary Policy Committee back in …