around 10% of its products. To assess the implications of partial price synchronization for inflation dynamics, we develop a …

that costpush shocks play an important role in understanding historical changes in inflation persistence. …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

output and inflation, as observed in a vectorautoregression analysis. In contrast to backward indexation to past inflation …, which is often assumed in the literature, sticky information leads to a hump-shaped response in the inflation of flexibly …

inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … linked via the incentive to innovate. For standard calibrations, the linkage is strong: as trend inflation shifts from -5 to …

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy … rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important … persistent cost-push pressures in the economy leading to a significant deterioration in the inflation - output gap trade …

In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly … distort the signal in many other measures of underlying inflation, and appears to capture price movements that are indicative … measures of underlying inflation monitored by the Bank of Canada. …

While two strands of the literature suggest that PPI inflation, in addition to or instead of CPI inflation, should be a … temporary, the standard monetary policy rule that does not target the PPI inflation may have become increasingly problematic. …