This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher …

output, aggregate demand, and inflation to an increase in commodity price are magnified when these rules are imperfectly … volatility. Also, our results indicate that having an explicit fiscal rule and an inflation targeting regime contribute to …

This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the … econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play …

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 …

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 …

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 … robustness to our conclusions. Results point to a significantimpact of inflation news over recent years that had not been …

inflation in the United States. We test for Granger-causality out-of-sample and find, perhaps surprisingly given recent … theoretical arguments, that including money growth in simple VAR models of inflation does systematically improve out … Volcker and Greenspan eras. However, the contribution of money to inflation forecasting accuracy is quantitatively limited and …

Over the past two decades, U.S. core PCE goods and services inflation have evolved differently. Against the backdrop of … global concerns of low inflation, we use this trend as motivation to develop a bottom-up model of U.S. inflation. We find … that domestic forces play a larger role relative to foreign factors in influencing core services inflation, while foreign …