This paper follows the Bayesian time-varying VAR approach with stochastic volatility developed by Primiceri (2005), to … experienced high inflation. The impact of an exchange rate shock on prices seems to slightly decrease across time …

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

back end of the yield curve. We then feed these rate counterfactuals into a large-scale Bayesian VAR and generate … inflation would have been 1.1 p.p. and 0.75 p.p. lower, respectively, and the unemployment rate 1.1 p.p. higher than they …

Assigning a discretionary central bank a mandate to stabilize an average inflation rate—rather than a period …-by-period inflation rate—increases welfare in a New Keynesian model with an occasionally binding lower bound on nominal interest rates … inflation targeting (AIT) is equivalent to price level targeting (PLT). However, AIT with a finite, but sufficiently long …

setting within the context of a VAR frame-work. It considers an economy with two sectors, a tradable sector and a non …

functions of the projected paths of the potentially asymmetric distributions of inflation and economic growth, allowing us to …

This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …