average of other episodes, and its pre-crisis inflation level is also lower. On the other hand, the United States current …

A large output gap accompanied by stable inflation close to its target calls for further monetary accommodation, but …

crisis is empirically examined. The standard model for themonetary analysis of inflation, i.e. the P-Star model by Hallman … long run dynamics of CPI inflation inIndonesia remarkably weIl. Hence, there is an empirical support for the assertion that …