limit to employment, enforced by monetary policy reacting upon conflict inflation, the effects of central bank independence … inflation in the European Monetary Union are discussed. Central bank independence seems to be associated with stable prices and … of the real costs of price stability. Therefore, the perspectives for employment and inflation in the European Monetary …

pressures. The possibility to adopt quot;more liberalquot; objectives in the future increases current inflation through an … accommodation effect. Simultaneously, the central bank tries to anchor inflation by promising to be even quot;more conservativequot …; in the future, which may be the relevant case for countries considering the adoption of inflation targeting …

pressures. The possibility to adopt quot;more liberalquot; objectives in the future increases current inflation through an … accommodation effect. Simultaneously, the central bank tries to anchor inflation by promising to be even quot;more conservativequot …; in the future, which may be the relevant case for countries considering the adoption of inflation targeting …

What is the impact of changing central bank independence (CBI) on the inflation-output trade-off? This paper introduces … expected inflation and inflation-output variability is built based on the equilibrium response of the median voter's expected … the threshold induces greater absolute change in inflation variability than output variability, the stylized fact …

as the 1989 Act may affect economic structure, focusing on the output cost of disinflation (short-run inflation …-output tradeoff). Three basic channels are identified based on: (i) the inflation environment and menu costs (New Keynsian theory … the short-run inflation-output tradeoff, allowing environments where "learning" about the new regime is assumed to be …