We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …

Empirical evidence presented in this paper shows that the predictability of inflation at long horizons varies … systematic monetary policy succeeds in stabilizing the incipient unit root in inflation. The mechanism by which it does this … that monetary policy need not be so vigorous in reactions to inflation. This helps to explain why inflation rates in the U …

variables, such as consumer price inflation, the growth of industrial production, the stock price index, the exchange rate of …

short some 20 million jobs. Further, there is no reason to believe that the current exceptionally low inflation rates are … transitory. Quite the contrary: without significant fiscal efforts to restore the bargaining power of labor, inflation rates are …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

This paper examines the relationship between nominal interest rate and the expected inflation rate for the Turkish … economy between 2002 and 2009, a period when the inflation-targeting regime was implemented as monetary policy. We use the … actually influenced the real long-term interest rates; the inflation targeting regime pursued by the Central Bank of Turkey is …

same inflation or interest rate expectations can differently assess whether the level of the corresponding variable is … and affects durable spending and saving decisions. We also show that the variation in inflation preferences can be …