the average anticipated path of policy responses to inflation is subject to a lower bound of unity. This result helps … explain how bond rates may exhibit stable responses to inflation, even in periods of passive policy. Another possible … explanation is time-varying term premiums with risk pricing that depends on inflation. The authors present a no-arbitrage model of …

central bank's inflation response necessary to rule out the possibility of self-fulfilling inflation expectations. This paper … their inputs (i.e. Markov-Switching) then inflation targeting interest rate rules are often found to result in indeterminacy … rule can alleviate this indeterminacy and anchor inflation expectations. Whether the money growth target should be a …

Since 1991, the Bank of Canada has had an inflation‐targeting (IT) framework established by a joint agreement between … inflation‐control agreement. This discussion paper summarizes some interim results from Bank staff analysis done for the August … analysis later in 2021. The core of the current framework-the 2 percent inflation target-has remained unchanged since 1995 …

inflation and output. Our main findings are threefold. First, monetary policy affects the probability of a crisis both in the … reduce the probability of a crisis and increase welfare by departing from strict inflation targeting and responding …

inflation and output. Our main findings are threefold. First, monetary policy affects the probability of a crisis both in the … reduce the probability of a crisis and increase welfare by departing from strict inflation targeting and responding …

After adopting an inflation targeting framework for monetary policy at the turn of the twenty-first century, Banco de …

Analysis Network (PRISMA) for inflation dynamics and monetary policy, relying on calibrated models and direct empirical …. Empirical estimates of the Phillips curve during the low-inflation period confirm previous findings of a relatively flat but … setting, changes in trend inflation above 5-6% would have significant effects on the euro area Phillips curve. Similarly …

Analysis Network (PRISMA) for inflation dynamics and monetary policy, relying on calibrated models and direct empirical …. Empirical estimates of the Phillips curve during the low-inflation period confirm previous findings of a relatively flat but … setting, changes in trend inflation above 5-6% would have significant effects on the euro area Phillips curve. Similarly …