policy bureaucrats' inflation forecasts? If there is a mismatch between the policies bureaucrats' expect governments to … findings suggest that partisan heuristics play an important part in monetary policy bureaucrats' inflation expectations … inflation. Right-party governments are expected to pursue lower inflation policies. How do these expectations shape monetary …

variability increases monitoring costs. We show that inflation variability can lead to higher corruption and lower investment. We … document a positive relationship between corruption and inflation variability in a sample of 75 countries. The effect is robust …: a one standard deviation increase in inflation variance from the median increases corruption by 12 percent of a standard …

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … euro area, and investigates their linkages in a VAR framework, also allowing for the possible impact of the policy regime … change associated with the start of EMU in 1999. The main findings are as follows. Steadystate inflation and inflation …

policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and …This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

We use parametric power ARCH models of the conditional variance of inflation to model the relationship between … inflation and its uncertainty using monthly data for Germany, the Netherlands and Sweden over a period ranging from 1962 to 2004 ….For all three countries inflation significantly raises inflation uncertainty as predicted by Friedman. Increased …

pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the …Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … transmission of monetary policy impulses and their impact on the real and nominal sectors of the economy bear a close relationship …