target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the inflation … percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show that the … increasingly short of potential with lower inflation targets. …

Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the … to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … application of the minimum distance estimation. The estimated model can explain the cyclical behavior of employment, hours per … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

In the paper we propose a new methodological approach to core in- flation estimation, based on a frequency domain … principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of …

shows that Russia is far from being a fully functioning democracy. This study points out, how since 1991, the political …

This study examines the triangular relationship between fundamental rights, democracy and the rule of law in the EU and … ‘state of play’ and provides a map of EU-level mechanisms assessing respect for rule of law, democracy and fundamental rights …