. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … of both having a quantitative target, and of hitting a declared target; we also consider effects on output volatility … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of …

model of inflation determination estimated on the Czech data.We characterize the estimated components of CPI, WPI and import …

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening … qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …

presented a challenge for the Eurosystem, as the volatility of the energy component of consumer prices has been high since the … impact of energy price changes on overall inflation in the future. For instance, the reaction of HICP inflation to energy …

assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are … not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission’s Consumer … Survey data. The results suggest that expectations drive inflation with a lag of about 6 months, which casts further doubt on …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …