useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …

useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …

There is a broad consensus among economists that, in the long run, inflation is a monetary phenomenon. However … inflationary processes. Moreover, impulses from monetary policy actions are transmitted to inflation through the output gap alone …. Interest rate impulses affect inflation through two channels, the output gap and the liquidity gap. Section 2 of the paper …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

line with empirical evidence, the model predicts a short-term inflation-output trade-off, a liquidity effect …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …

Die Autoren der Beiträge des Bandes befassen sich mit dem Transmissionsmechanismus in der Geldpolitik. Im Zentrum steht … inländischen Geldmenge orientierten Geldpolitik der Schweizerischen Nationalbank beeinflußt werden. -- Der Aufsatz von P. Bofinger … die These einer nichtlinearen Phillipskurve, was der Geldpolitik die Möglichkeit eröffnet, realwirtschaftliche Einflüsse …

the average anticipated path of policy responses to inflation is subject to a lower bound of unity. This result helps … explain how bond rates may exhibit stable responses to inflation, even in periods of passive policy. Another possible … explanation is time-varying term premiums with risk pricing that depends on inflation. The authors present a no-arbitrage model of …

inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …