examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms' costs of working capital … inflation responses to monetary policy shocks, and can even lead to inverse inflation responses, when the cost channel is …

Empirical estimates find that the relationship between inflation and the output gap is close to nonexistent—a so … meaningful inflation from plausible supply shocks. This is because imposing a flat Phillips curve immediately implies that the … demand increases. This has natural implications for inflation dynamics and crucial implications for the conduct of monetary …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … 1999-2019, when the Federal Funds Rate and the Euro-Dollar exchange rate are added to the VAR model inflation shows … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of …

aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …

hybrid specification that includes both lagged and future inflation and then by examining whether the estimated coefficient … on future inflation is significantly larger than the one on lagged inflation. This article presents the evidence that … is irrelevant and expected future inflation is the major determinant of inflation — arise if the hybrid specification is …

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

Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They … initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued … aiming to anchor drifting inflation expectations. Why might central banks want to look through supply-driven inflation …

growth by approximate 2 percentage points in 2020-2021 and inflation by 0.5 percentage points. The longer-term refinancing …