-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

This paper examines whether the clarity of central bank communication about inflation has changed with the economic … environment. We use readability statistics and content analysis to study the clarity of communication on the inflation outlook by … explaining their policies when faced with higher uncertainty or a less favorable inflation outlook. The global financial crisis …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure …

The U.K. monetary policy framework, which combines inflation targeting with operational independence, provides a … have not yet been fully tested: the credibility and transparency of the inflation forecasts, which form the core of policy …