out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …

their role in influencing the credibility of the monetary authority. We focus on measures of inflation expectations, the … mean reversion properties of inflation, and indicators of exchange rate risk. In addition we place some emphasis on whether …

the adoption of inflation targeting. However, the recent financial crisis and the call for central banks to focus more on …

We use Bayesian methods to estimate two models of post WWII U.S. inflation rates with drifting stochastic volatility … and drifting coefficients. One model is univariate, the other a multivariate autoregression. We define the inflation gap … as the deviation of inflation from a pure random walk component of inflation and use both of our models to study changes …

framework that allowed the high inflation of the 1970s. Second, I consider whether models of inflation determination with no … monetary policy strategy of the empirical evidence for a long-run relationship between money growth and inflation. And fourth …, I consider reasons why a monetary policy strategy based solely on short-run inflation forecasts derived from a Phillips …