inflation rate. Evidence is also presented that suggests prices are being driven by increases in the money supply rather than by … changes in price setting behaviour. The paper additionally uses the estimated elasticity on the inflation variable to … dramatically after 2000, with inflation eventually exceeding the rate required to maximize this revenue stream. This is discussed …

their credibility to forward guidance policies. As stable inflation in normal times either stems from central banker …'s credibility, e.g. through reputation, or from his aversion to inflation, the private sector is unable to infer the central banker …'s type from observing stable inflation, jeopardizing the efficiency of forward guidance policy. We show that this signaling …

actions, especially government spending, were critical in the pre-Volcker inflation build-up. …

actions, especially government spending, were critical in the pre-Volcker inflation build-up. …

We examine how the interaction between monetary policy and macroeconomic conditions affects inflation uncertainty in the … long-term. The unobservable inflation uncertainty is quantified by means of the slowly evolving long-term variance component … of inflation in the framework of the Spline-GARCH model (Engle and Rangel, 2008). For a cross-section of 13 developed …

We analyze how weak credibility affects the volatility of consumption spending in a model of exchange … the weak credibility hypothesis. The hypothesis can account for the main qualitative properties of the boom-bust cycle …

on output and, in particular, also on inflation in the euro area under alternative settings for monetary policy. We … that this over-proportionality is stronger for the fiscal multiplier on inflation than on output. We relate this finding to …

prices and the path of inflation, potentially with significant effects on real variables in settings where the classical … aggregate output and employment -- and for the path of inflation, but not the cumulative amount of inflation overall. The … inflation at a lower cost to employment and output than the trade-off incurred by raising interest rates or by raising taxes …

This paper quantitatively assesses the effects of inflation shocks on the public debt-to-GDP ratio in 19 advanced … impulse responses by local projections both suggest that a 1 percentage point shock to inflation rate reduces the debt … higher inflation, even if accompanied by some financial repression, could reduce public debt burden only marginally in many …