economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

accountability through transparency leads to a lower expected rate of inflation and less stabilization of supply shocks …

We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates … always in reaction to Fed announcements; and, (v) our impulse responses demonstrate that odds of extreme inflation outcomes …

with inflation performance. …

with inflation performance. …

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 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. …

autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output … shows no significant response to monetary policy while the inflation response is negative. The paper endogenously determines …