Monetary developments of recent decades began with much promise with inflation targeting by independent central banks …

-side effects into account, we get more persistent inflation and output reactions.We also show that the dichotomy does not hold for … discretionary monetary policy, the fiscal policy regime affects the size of the inflation bias.We also show that commitment to an … optimal monetary policy not only corrects the inflation bias but also increases the persistence of output reactions …

inflation, quality of institutional setup, and extent of Internet use in a country are important determinants of MPCT. MPCT has … a robust and significantly negative impact on inflation variability, even after controlling for important macroeconomic …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …

qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …