model embodies the key principle that, in an inflation-targeting framework, the role of monetary policy is to provide an … anchor for inflation and inflation expectations. The development and calibration of this model is an ongoing process. …

This paper investigates the relation between the dynamics of inflation and exchange-rate regimes. It demonstrates that … associated with negligible persistence of inflation in the industrial economies, while regimes of managed exchange rates are … associated with very high persistence of inflation: the interwar period is associated with persistent deflation, the more recent …

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

policy rests supports deflationary/stagnation tendencies in low-inflation/low-growth countries and bolsters booms/inflation … in high-inflation/high-growth countries. Whereas Germany has fallen victim to this policy, in a number of other countries …