. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods … inflation. This renders it difficult for central bank to exit from their current very expansive monetary policy stance if they …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their … inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared … by many components of the CPI basket. In a comparative analysis of the forecasting power of the different inflation …

negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …