This paper examines the methods used by the Bank of Japan for the estimation of the …

A number of recent studies have suggested that activist stabilization policy rules responding to inflation and the … output gap can attain simultaneously a low and stable rate of inflation as well as a high degree of economic stability. The …

preference (RAP) as well as inflation avoidance preference (IAP) is established. And it is found that RAP is dominant over IAP …, thus confirming nonlinearities in reaction function which in the present case turns out to be concave in inflation and … and negative inflation and output gap differ over long time horizons thus confirming asymmetric policy preferences …

In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a … to inflation and the output gap, we show that the empirically observed changes in U.S. inflation-gap persistence during … Benati’s (2008) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …

In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a … to inflation and the output gap, we show that the empirically observed changes in U.S. inflation-gap persistence during … Benati’s (2008) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …

In a simple New Keynesian model, we derive a closed form solution for the inflation persistence parameter as a function … inflation and the output gap, we show that the empirically observed changes in U.S. inflation persistence during the period 1975 …) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

, could not only push up CPI inflation but also affect its volatility. Existing empirical literature has only found that … carbon pricing schemes are generally associated to a transitory effect on the level of inflation. This paper assesses … empirically the effects of carbon pricing on inflation volatility for both carbon tax and cap-and-trade schemes (also known as …