In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

, could not only push up CPI inflation but also affect its volatility. Existing empirical literature has only found that … carbon pricing schemes are generally associated to a transitory effect on the level of inflation. This paper assesses … empirically the effects of carbon pricing on inflation volatility for both carbon tax and cap-and-trade schemes (also known as …

This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the … parallels. It is found that the poor reputation of the Bank of Japan (BoJ) is, at times, underserved. To be sure, there were …

area (EA) and the US. The estimations show that until mid-2014 the ECB’s response to inflation was more forceful when … inflation was above 2% than below 2%. Since then, the ECB’s policy can be characterised as symmetric, and we quantify the … bound and a low neutral real rate, and find that it prescribes a stronger response to inflation and the output gap when …

. Macroeconomic outcomes are measured by the mean levels and the volatility of output (gaps), unemployment and inflation. We present … point inflation target appears to outperform a target range. Third, the (relative) performance of low-for-long (L4L … space is small, but if the space is larger these rules, while stabilizing inflation, may lead to more volatility in the real …

inflation targeting result in a binding lower bound one-fourth of the time as well as inflation and output exhibiting large … purchases. Makeup strategies, especially average inflation targeting with a long averaging window, perform better than inflation …

equilibrium real rate using an estimated DSGE model for the euro area. We find that simple feedback rules that implement inflation … targeting result in a binding lower bound one-fourth of the time as well as inflation and output exhibiting large downward … purchases. Makeup strategies, especially average inflation targeting with a long averaging window, perform better than inflation …

This study assesses the degree of anchoring, i.e. stability, of long-term inflation expectations in the Euro area based … evolution of the entire distribution of inflation expectations in the long and medium term points to substantial downside risks …

indicate that supplementing the inflation target with a tolerance interval may be useful to enhance central bank credibility …