inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

during the last 20 years. All central banks under review target a small and positive inflation rate (typically 2%). In most … strategies when the policy rate is constrained by the effective lower bound (ELB). Under standard inflation targeting, inflation … inflation target performs better than a range, especially if compared to an asymmetric one with the focal point close to the …

In this paper, we examine whether domestic or global output gap affects inflation in three panels: the European Union … inflation in individual countries of the European Union. To find the determinants of inflation, we employ the Granger causality … show that after the crisis the global output gap predicts the evolution of inflation in the Eurozone panel. On the other …

of their specific occupational background. Third, party members react significantly less to inflation and more to output …