The article summarizes the main points discussed at the seminar on Monetary Policy during Very Low Inflation, held by … research into low inflation and its implication for the Czech economy. The presentation was largely based on material available …

There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and … deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and …

This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper … assign the best-forecast performance to the modified version of the P-star model of inflation for a small, open economy. …

inflation targeting. First, new consensus with its roots in Wicksell´s approach is briefly introduced. In the next parts … differences are found (goals of monetary policy, interest rate functions, nature of inflation, shape of Phillips curve and others …

Since 1980's many central banks have been changing their monetary strategy to explicit inflation targeting. This new … monetary concept is based on management of short-term interest rates in the context of relation between inflation prediction … and central bank inflation target. Therefore we try to analyze the crucial problems of efficiency of the inflation …