We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …

consequences for inflation of setting interest rates aimed at mitigating financial losses, showing that such a strategy would lead … to substantially higher inflation rates. Overall, our findings confirm that a central bank's willingness to accept …

We find evidence that adopting an explicit inflation objective plays a role in anchoring long-run inflation … expectations and in reducing the intrinsic persistence of inflation. For the period 1994-2003, private-sector long-run inflation … forecasts exhibit significant correlation with lagged inflation for a number of industrial economies, including the United …

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

impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation …

estimates for inflation forecasting both in the short term (one-quarter and one-year ahead) and the medium term (two-year and …

differ in their "lower-for-longer" commitment as well as policymaker preferences regarding inflation and output volatility … strategies would call for anticipated timing of the start of the hiking cycle: earlier tightening would prevent inflation from … peaking at 10%, but the forceful tightening since 2022:Q3 prevented higher inflation from becoming entrenched. However, once …