We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

This paper estimates a New Keynesian model with trend inflation and contrasts Taylor rules featuring fixed versus time …-varying inflation target while allowing for passive monetary policy. The estimation is conducted over the Great Inflation and the Great … Moderation periods. Time-varying inflation target empirically fits better and active monetary policy prevails in both periods …

We propose and test a new explanation for the rise and fall of the Great Inflation, a defining event in macroeconomics … inflation and further lowered the real return to saving, setting off an inflation spiral. The repeal of Regulation Q broke the … spiral by sending deposit rates sharply higher. We document that the rise and fall of the Great Inflation lines up closely …

interest rates, inflation and inflation expectations. Average-inflation targeting can approximate the price path observed under … target helps somewhat anchor longrun inflation expectations. … participants are tasked with repeatedly forecasting inflation in a simple macroeconomic model featuring only the dynamics of …

rational expectations for all Taylor rule parametrisations. Under hybrid expectations, the inflation rate is much more … persistent than under the rational expectations; three years is not enough to reach the inflation target of two percent, even for … initial macroeconomic conditions of the simulations correspond to the high inflation environment of early 2022. The simulation …

In Canada, targeting the inflation rate was intended as a temporary measure on a journey to price-level stability, but … account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange rate to … rate and money growth in influencing economic outcomes are emphasised. Today’s standard DSGE approach to modelling …

In Canada, targeting the inflation rate was intended as a temporary measure during a transition to price … following account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange … unemployment rate and money growth in influencing economic outcomes are also discussed. Today's standard theoretical approach to …

long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …