This paper conducts a structural analysis of inflation persistence in the United Kingdom between 1965-2009. I allow for … and stochastic shock volatility. The first policy regime responds passively to movements in inflation, adjusting the … other regime responds actively to inflation and places less weight on exchange rate movements. This regime is present for …

We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard … deviations from the policy rule and the results are re-enforced by the presence of non-zero trend inflation. …

responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …

movements with little inflation response; yet, at some point, something snaps, and a sudden inflation takes off that is strongly …

In this paper, we investigate the effects of monetary policy concerning the inflation rates specific for each income … the different inflation rates specific for each of the income groups. By using a Factor-Augmented VAR (FAVAR) model, we …

of past experience and international best practices. It confirms that food inflation has been the driver of domestic … inflation. The paper studies the recommendations of the Urjit Patel Committee and comments that monetary policies predominantly … focussed on inflation targeting may not necessarily be effective in India where inflation and inflationary expectations …