The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …

We examine how people's forecasts for oil or gasoline prices influence their forecasts for broader inflation. We find … their forecasts about inflation, with much of the evidence pointing towards under-reaction. We also show that the … little weight on their subjective forecasts for oil prices when making their forecasts for total inflation. …

Modern monetary policy focuses on credibility and shaping consumers' inflation expectations. According to the concept … of inflation forecast targeting (IFT), inflation forecasts play a crucial role in the instrument rate decision …-making process and may be a specific intermediate target. The aim of the study is to analyse the credibility of inflation forecasts …

inflation and monetary policy-relevant inflation measure (MPRI) in the central banks of Sweden, Norway and Czech Republic. The … analysis refers to the possibility of using core and MPRI inflation projections as a tool (intermediate goal) for the … implementation of Svensson's concept of optimal inflation forecast targeting strategy (IFT) and determines what the chosen central …