the UK economy. We find that a 1 percentage point increase in the policy rate reduces output by up to 0.6% and inflation …

, we find that monetary policy has persistent effects on real interest rates and breakeven inflation. Second, employing our …

model of inflation dynamics to evaluate monetary policies that rely on going long. It concludes that these policies for the … most part fail to keep inflation under control. A complementary methodological contribution is to re-state the classic … integrate the endogenous determination of inflation and the term structure of interest rates. …

model of inflation dynamics to evaluate monetary policies that rely on going long. It concludes that these policies for the … most part fail to keep inflation under control. A complementary methodological contribution is to re-state the classic … integrate the endogenous determination of inflation and the term structure of interest rates …

vivid debate on the possible implications for monetary policy. In this paper, we ask whether the U.S. Fed, the Bank of Japan …

financial conditions have some inflation forecasting ability over the monetary policy relevant two to three-year horizon during …

We jointly estimate the natural rate of interest, the natural rate of unemployment, expected inflation, and potential …-variation in (i) the data-generation process for inflation, which we capture via a time-varying parameters specification for the … Phillips curve portion of the model; and (ii) the volatilities of disturbances to inflation and cyclical(log) output, which we …

This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on … for low inflation. Using data for four G7 economies, the paper shows that, except for Germany, nonlinear and asymmetric … monetary authority develops a greater precautionary demand for output expansions than for low inflation. This may generate a …