We estimate the dynamic effects of changes in retail energy prices on inflation using a novel monthly database …, covering 110 countries over 2000:M1 to 2016:M6. We find that (i) inflation responds positively to retail energy price shocks … response of inflation to these shocks owing to differences in factors related to labor market flexibility, energy intensity …

inflation targeting regime in the transmission from exchange rate movements to prices. We perform a set of robustness checks …

Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth … advanced and emerging market economies over the period 1990-2014. Inflation anchoring in each country is measured as the … response of inflation expectations to inflation surprises (Levin and others, 2004). We find that credit constrained industries …

This paper explains inflation performance in a sample of industrial and transition economies by looking at policymakers … inflation, particularly (but not exclusively) in countries where the government securities market is not well developed. Other … factors with significant effect on inflation include relative price changes, central bank independence, the exchange rate …

Economists generally accept the proposition that high inflation rates generate inefficiencies that reduce society … higher degree of political instability is associated with higher inflation. The paper also draws relevant policy implications … for the optimal design of inflation-stabilization programs and of the institutions favorable to price stability …

Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses …-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change … the welfare-maximizing inflation level. For a plausible set of parameters, the optimal inflation target is in excess of …

negative shocks. Results are consistent with higher inflation, lower employment and disappointing TFP growth rates experienced …