-sum) tax shocks always affect output and inflation. Tax non-neutralities in the model arise solely through the mechanism …

South Africa's inflation and business cycles. The study uses a small open economy New Keynesian Dynamic Stochastic General …. Regime F (active fiscal policy), in contrast, stabilizes debt more quickly but at the cost of higher inflation, as it does …

This paper identifies shocks to the Federal Reserve's inflation target as VAR innovations that make the largest … contribution to future movements in long-horizon inflation expectations. The effectiveness of this scheme is documented via Monte … inflation, GDP growth and long-term interest rates. Target shocks are estimated to be a vital factor behind the increase in …

This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United … States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries … changes on inflation expectations, and further provide a theoretical basis for the empirical results. We use data from 2010 to …