stochastic volatility. The evidence suggests that the APP had a significant upward effect on both real GDP and HICP inflation in … HICP inflation seems more marked in the medium term. Moreover, several channels of transmission appear to have been … activated, including the portfolio rebalancing channel, the exchange rate channel, the inflation re-anchoring channel and the …

setting, we find that US interest rate uncertainty not only drives local output and inflation volatility, but also causes … declines in output, inflation, and the interest rate. Moreover, we document strong global impacts, making the world move in a …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …

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 …

qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …