estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …

The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to … achieve the price stability target of 2 percent inflation. In this paper, a forward-looking open-economy general equilibrium … analysis (FPAS) for Japan. In the model's baseline scenario, the likelihood of the Bank of Japan reaching its 2 percent …

inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …

stability under adaptive learning for interest rate rules that respond to inflation measures differing in their degree of price … stickiness. We find that rules responding to headline inflation measures that assign a positive weight to the inflation of the … the inflation of the sector with high price stickiness. By this we mean that they are more prone to induce non …

""natural rates"" of capacity and labor utilization above which inflation begins to accelerate; (2) estimating a production …

proportionally to inflation. We show that conditions under which these rules generate aggregate instability by inducing liquidity … that respond to expected future inflation are more prone to induce endogenous cyclical and chaotic dynamics the more open …