relation to the recently completed Danish Price History Project. If one define price stability as an inflation rate around 2 … four decades following the end of the Second World War where inflation expectations lost their anchor. …

inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross … both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as … the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan. …

Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …

A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose …

changes does not change much with inflation and does not react much to aggregate shocks; (vi) changes in inflation are mostly … consistent with the predictions of a menu cost model in a low inflation environment where idiosyncratic shocks are a more …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

We empirically examine and compare the determinants of producer and consumer price inflation in 10 Asian economies … are more important in explaining producer price inflation than consumer price inflation in the 10 Asian economies. On the … other hand, for consumer prices, demand-pull factors still explain much of the inflation. Finally, we find that the …

Trimmed-mean Personal Consumption Expenditure (PCE) inflation does not clearly dominate ex-food-and-energy PCE … inflation in real-time forecasting of headline PCE inflation. However, trimmed-mean inflation is the superior communications and … policy tool because it is a less-biased real-time estimator of headline inflation and because it more successfully filters …

movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across countries … deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the effective lower … inflation. …