-form) properties of the economy. Based on estimated models for the Great Inflation and the most recent period, I show that, as a … played by monetary policy in exacerbatingthe Great Depression, causing the Great Inflation, or fostering theGreat Moderation …

Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent … downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation … inflation found in the data for the euro area. In this model, continuing to follow the same rule makes inflation to be on a …

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

-term inflation volatility in response to exogenous shocks can be optimal; the optimal response to adverse financial shocks is to … lower interest rates, if not at the zero bound, and to engineer a short period of controlled inflation; the Taylor rule may …

variances for all series, and decreases in the variances of inflation and the output gap, ithout any need of sunspot shocks …

on output and, in particular, also on inflation in the euro area under alternative settings for monetary policy. We … that this over-proportionality is stronger for the fiscal multiplier on inflation than on output. We relate this finding to …