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 …

output and real-rate gaps can be represented in a parsimonious and practical manner using the theory of anelasticity that …

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 …