such as the shortterm nominal interest rate, annual inflation and output. …

supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help …

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 … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …

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 … monetary inflation. The proposed measure is characterised by all the properties that an u0093idealu0094 core inflation process …