Despite closing output gaps and tightening labor markets, inflation has remained low inthe euro area. Based on an … augmented Phillips Curve framework, we find that thisphenomenon-sometimes attributed to low global inflation-has been primarily … causedby a remarkable persistence of inflation, keeping it low despite the reduction in slack. Thisfeature is shown to be …

accountability. We show that a flexible inflation targeting approach that places weight on stabilizing inflation, a measure of … the effects of financial frictions can be ameliorated at little cost in terms of inflation. A range of different financial …

context, the modelshows that a monetary policy focused on its traditional inflation and output objectivesaccompanied by a well …

We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role … for monetary policy in influencing inflation in the short run. SSA's rapid growth, its integration with the global economy …, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We …

Do euro area inflation expectations remain well-anchored? This paper finds that the protractedperiod of low (and below …-target) inflation in the euro area since 2013 has weakened theiranchoring. Testing their sensitivity to inflation and macroeconomic news …. Second, the reactions of expectations are investigated at daily, time-varying and intradayfrequency regressions to add …