We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A …

Recent studies emphasize that survey-based inflation risk measures are informative about future inflation and thus …-frequency financial market data have predictive power for the low-frequency survey-based inflation risk indicators observed at the end of …

examines the usefulness of these estimates for inflation forecasting. Over this period, we find that the Federal Reserve … estimation techniques. In contrast to previous work, we also find no deterioration in forecast performance when inflation …

We propose to regard the central banker as a risk manager who aims to contain inflation within pre-specified bounds. We …

inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint …, we show that an inflation bias as well as a deflationary bias exist as a steady-state outcome. We assess the predictions … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct …