components for a large data set comprising the U.S., the EU-27 area, and the respective rest of the world. Credit risk conditions …

since mid-2012 the horizon when short rates are expected to exceed 25 bps again has ranged between 18 and 62 months …

potential and stationary inflation. This paper applies the method recently suggested by Laubach and Williams to jointly estimate … area was on average stimulative during 1960s and the 1970s, while it contributed to dampen the output gap and inflation in …

countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …

and food price shocks on a given set of countries. Secondly, we assess the importance of inflation linkages among … exist among regions. In addition, a considerable part of the observed headline inflation rises is attributable to foreign …

equilibrium values having explanatory power for subsequent consumer price inflation …