The paper examines the factors of global inflation acceleration in 2021-2022. We consider primarily the developed … economies, where rates of inflation over the last two years have exceeded multi-year highs and have significantly exceeded … target levels. We find that the cause of accelerating inflation was an imbalance between aggregate demand, which started to …

initial macroeconomic conditions of the simulations correspond to the high inflation environment of early 2022. The simulation … rational expectations for all Taylor rule parametrisations. Under hybrid expectations, the inflation rate is much more … persistent than under the rational expectations; three years is not enough to reach the inflation target of two percent, even for …

particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared … inflation reduces uncertainty about future price developments. This facilitates decision-making for companies concerning …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

and actual nominal GDP in the McCallum rule, as well as the output and inflation gaps in the Taylor rule. We find a …

Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the … to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be …

We study how uncertainty shocks affect the macroeconomy across the inflation cycle using a nonlinear stochastic … volatility-in-mean VAR. When inflation is high, uncertainty shocks raise inflation and depress real activity more sharply. A non …-linear New Keynesian model with second-moment shocks and trend inflation explains this via an 'inflation-uncertainty amplifier …

This paper summarises the findings of the Eurosystem's Expert Group on Inflation Expectations (EGIE), which was one of … (i) reviewing the nature and behaviour of inflation expectations, with a focus on the degree of anchoring, and (ii …) exploring the role that measures of expectations can play in forecasting inflation. While it is households' and firms' inflation …

, such as inflation expectations for the next four years that are weekly collected. The report shows the evolution of these … expectations of households and firms regarding the future of inflation, which are determinants for current inflation, go beyond … expectations of inflation measured by the Focus Market Report explain inflation measured by the CPI in Brazil? To answer this …

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