losses for the ECB and try to assess inflation dangers stemming from the 3Y LTROs. In the same section, we also look at the …

of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly, we … an independent monetary policy. We find that inflation was the main determinant of central bank credit prior to 2007 …. After 2007, it closely follows unemployment in the respective countries. -- tragedy of the commons ; inflation bias ; credit …

of past experience and international best practices. It confirms that food inflation has been the driver of domestic … inflation. The paper studies the recommendations of the Urjit Patel Committee and comments that monetary policies predominantly … focussed on inflation targeting may not necessarily be effective in India where inflation and inflationary expectations …

interaction of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly … correlated with unemployment, but not with inflation in the respective countries. -- tragedy of the commons ; inflation bias …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the "standard model" suffice to explain the broad contours of macroeconomic outcomes in …

into account expected inflation and some measure of the expected output gap. On the other hand, realized inflation and …

contemporaneously to output and inflationary pressures. Inflation is mostly driven by interest rate shock over the medium to long term … inflation than that emanating from interest rate. In contrast, output is largely driven by credit and assets prices shocks. This …