should respond more aggressively to inflation and disregard output, since the financial accelerator effects are weaker …

prominent role in the conduct of monetary policy. A modified Taylor Rule would depend on a long-term measure of inflation having …-emptive anti-inflation policy in the middle of the expansions when housing is not so sensitive to interest rates, making it less … likely that anti-inflation policies would be needed near the ends of expansions when housing is very interest rate sensitive …

prominent role in the conduct of monetary policy. A modified Taylor Rule would depend on a long-term measure of inflation having …-emptive anti-inflation policy in the middle of the expansions when housing is not so sensitive to interest rates, making it less … likely that anti-inflation policies would be needed near the ends of expansions when housing is very interest rate sensitive …

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control - and with it their own …