inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of … perception of risk by markets. We also find some weak evidence that IT countries did better on unemployment rates and advanced IT …

-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the … financial and economic development and recent inflation history. …

This paper extends a small linear model of the Israeli economy to allow for nonlinearities in the inflation …

Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign … exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically … monetary policy responses in inflation-targeting, open economies have changed significantly, as the institutional framework for …

changes have swifter effects on output and inflation compared to advanced economies and that exchange rate dynamics plays a … key role in this connection. Importantly, the response of inflation to monetary policy shocks has grown stronger and the … output-inflation tradeoff improved since the introduction of inflation targeting. …