banks set interest rate targets, and do not even pretend to control money supplies. How is inflation determined under an …We finally have a complete theory of inflation under interest rate targets, that mirrors the long-run neutrality and … frictionless limit of monetary theory: Inflation can be stable and determinate under interest rate targets, including a k percent …

central bank balance sheets. We analyze the experience in seven advanced economies (Australia, Canada, Euro area, New Zealand …

While the long run relation between money and inflation is well established, empirical evidence on the adjustment to … volatility of the transmission from monetary pressure to inflation follows some structure, i.e., if the parameter regime can … state space model ; inflation ; money …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth? describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …

variance decomposition of US inflation. We also find that domestic currency has higher share of the forecast error variance …

side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of … valuable information about future movements of U.S. inflation and real output. Statistical evidence suggests that the Friedman …

This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United … States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries … changes on inflation expectations, and further provide a theoretical basis for the empirical results. We use data from 2010 to …