appreciating that were put in place in 2013. I focus its on the impact on output, unemployment, and inflation. I use the synthetic … connected to disturbances created by changes in excise taxes. The effect of the commitment on inflation is positive but not …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

before and after the Real plan, which stabilized inflation in July 1994. The results show that the interest rate response to … inflation was greater than one-to-one before stabilization and smaller than that afterwards, hence inverting the Taylor …

reserves bears a strong negative correlation with the annual average rate of inflation, which, on account of the former being … controlling inflation …

Pareto improvement in inflation and output volatilities. This involves simulating counterfactual scenarios under alternative … monetary policy shocks, where for each such simulation we compute the Root Mean Squares (RMS) of the inflation and output gaps … aimed at narrowing the output gap at the expense of more volatile inflation …