Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative … relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …

We study asymmetric inflation effects of both conventional and unconventional monetary policy in the euro area during …

to match past inflation. However, the present paper proposes a much larger effect by using the job finding rate as the …

This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …

We employ a money-based early warning model in order to analyse the risk of a low inflation regime in the euro area …, Japan and the US. The model specification allows for three different inflation regimes: Low, Medium and High inflation … estimate the model with data from the early 1970s up to the present. Our analysis suggests that the risks of a Low inflation …