monetary contraction. But given Germany's central role in the European Monetary System (EMS), we can also shed light on debates …

In recent years, many countries have instituted monetary reforms aimed at improving anti-inflation credibility. Is it a …

-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 …

like those which appear to be typical in Germany …

, we document several potential fiscal dominance effects during 2000-2017 under Inflation Targeting (IT), and non …

its steady state depends on the present value of a weighted sum of inflation and output gap differentials. The weights are …

experience of the United States, the United Kingdom, and Germany in the late nineteenth century during a period characterized by …

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 …