appropriate response for monetary policies. The world economy is currently being buffeted by a number of major shocks. A … shock to aggregate supply or aggregate demand. We explore the difference in the transmission mechanism if the shocks occur … monetary policy to shocks of this type and explore whether there are gains to coordinating the monetary policy responses of the …

, incorporates the dynamic interaction between monetary and fiscal shocks on the demand side and supply shocks on the other, and …

inflation and broad money as indicators is optimal. …

Rationale Inflation has risen continuously since December 2020. The increase was initially confined to the energy … spread of inflation is the result of higher energy prices. Takeaways •The influence of energy prices on underlying inflation … has increased. •This is partly due to the larger size of recent shocks, but also to an intensification of the pass …

variation of average markups and the persistence in the reactions to nominal and real shocks. These results are achieved by …-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is …

able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

The current discussion of Inflation Targeting (IT) in emerging economies deals with the effects that nominal exchange … rate movements have on the overall inflation rate. The literature has focused in the analysis of the advantages and …-through effect into inflation. So far none of them have dealt with the differences arising from the policy instruments used to fight …

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for … inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the … at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return …