need to correct the estimation of indicators of economic uncertainty. The indicators were constructed from textual data … Pandemic) in its word list. Initial results show that there is a significant effect of COVID-19 on the estimation of the … extreme events. Moreover, failing to take conjunctural issues into account throughout the estimation process can result in …

We construct an empirical test of whether the anticipation of adoption of inflation targeting affects the inflation … rate. We observe that most of the central banks adopt the regime after first achieving significant disinflation. With pre-inflation …-in-difference framework. We find that inflation targeting is successful in locking-in already low inflation rather than reducing high …

Low inflation hit the Japanese economy shortly after the burst of the bubble in stocks and real estate in 1991 and has … trade dispute. In the early 1990s, Japan faced sluggish economic growth and low inflation, as well as severe structural … difficult to judge the effectiveness and efficiency of the BOJ's policy tools, as achievement of inflation beyond the 2% price …

- December 2015 and five small open inflation targeting economies. Using entropy balancing, I create a synthetic control group ….66 - 0.69 percentage points (pp) after 30 months. The same increase leads to a reduction in the inflation gap with a peak … (ii) with the level of asset purchases. This causes the impact of asset purchases on the inflation gap to eventually …