Inflation has been below the Federal Reserve's target for much of the past 20 years, creating worries that inflation … forecasters, household and business surveys, and the market for Treasury inflation protected securities (TIPS) to estimate long …-run inflation expectations. These have fallen notably in the past few years (to roughly 1.9 percent for CPI inflation, well below …

stability objective in the inflation targeting countries, links to inflation and the output gap are generally weaker and less …

of output volatility …

Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After … impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … unemployment—compared to the past. We examine another aspect that could explain this empirical finding, namely the demographic …

increase in inflation. The model explains the joint dynamics of output, inflation, real wages, and interest rates, and is …