postwar US macroeconomic data can be explained as the outcome of passive monetary policy, indeterminacy, and sunspot … windows and allowing the parameters to fall both in the determinacy and indeterminacy regions. The estimates reveal large … the sample. The results confirm that macroeconomic data in the early windows are better explained by indeterminacy, while …

This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using … dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and … depreciations of the domestic exchange rate have significant positive effects on professionals' survey-based inflation expectations …

We study the effects of professionals’ survey-based inflation expectations on inflation for a large number of 36 OECD … economies, using dynamic cross-country panel estimation of New-Keynesian Phillips curves. We find that inflation expectations … have a significantly positive effect on inflation. We also find that the effect of inflation expectations on inflation is …

The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation … targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting … around the world has been successful in terms of achieving the announced target and keeping inflation rate around it. We …

, prompting them to raise markups and prices in anticipation of potentially higher future inflation. These findings establish a … connection between heightened uncertainty, higher core inflation, and increased profits. …

that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central … bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the … transmission mechanism. Generally there is still an inflation bias, despite the absence of a time-inconsistency problem. It is …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

The purpose of the present paper is to investigate perceived inflation gap persistence using actual data of … professional forecasts. We derive the unobserved perceived inflation gap persistence and using a state dependent model we estimate … the non-linear persistence coefficient of inflation gap. Our main result is that for GDP deflator inflation, the estimates …

After the introduction of a stabilization program Israeli inflation decreased from 400% in 1985 to 2% in 2013. This … process is defined by three clear steps of high, medium and low inflation. The break dates are in line with major economic …