Sticky price models based on menu costs predict that countries with high trend inflation should have (i) smaller impact … effects of demand shocks on output and (ii) less persistent output fluctuations, relative to low-trend inflation countries …. These predictions are tested, controlling for changes in trend inflation, using a country-specific approach. The results do …

monetary policy reaction function of central banks during the Coronavirus Disease 2019 (COVID-19). Since inflation is mostly …

This paper develops a model of inflation in an open economy. The model permits analysis of the susceptibility of open … paper arrives at a “structuralist inflation targeting agenda”. Based on a proper conception of inflation dynamics, this … involves “getting inflation targeting right” rather than either accepting mainstream inflation targeting prescriptions or …