interpret the evolution of the central bank independence from the Great Inflation and during the Great Moderation – i.e. from …

While the long run relation between money and inflation is well established, empirical evidence on the adjustment to … volatility of the transmission from monetary pressure to inflation follows some structure, i.e., if the parameter regime can … state space model ; inflation ; money …

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector … autoregressive (SVAR) model. The SVAR approach allows to identify US and EA specific inflation expectations shocks. By modeling the …

analysis that explores the multi-dimensional aspects of inflation in the region, in particular the respective contribution of …

Two extraordinary inflation surprises of the last generation were the longstanding inflation shortfall from central … bank targets and now the pandemic inflationary.Inflation shortfalls can be attributed to characteristics of monetary … inflation. Compounding this problem is a base level of inflation from non-monetary causes, population growth and the natural …

We study how exchange rate pass-through to CPI inflation has changed since the global financial crisis. We have three … declining pass-through in emerging markets is related to declining inflation. Third, we show that it is important to control for …

stabilizes a basket composed of domestic price inflation, exchange rate, and output. For some parameterizations, the best rule … can be specified as an interest rate rule that responds to the natural interest rate, inflation, output, and exchange rate …

monetary policy objective. We find that for the price of a strong hike in inflation a severe economic recession can be avoided …

economies in terms of both output and inflation. In the case of a monetary union, we find that stabilisation of output in the … country where the crisis originated and a positive inflation rate in the other country. …