inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …

policy impacts inflation and real economic developments in China. The results indicate that the conduct of monetary policy in … aims to hit an inflation target by simply controlling the target interest rate. First, China's monetary policy toolkit is …

When inflation picks up, central banks are most concerned that the de-anchoring of inflation expectations and the … ignition of wage-price spirals will trigger inflation dynamic instability. However, such scenarios do not materialize in the … updated according to the actual inflation process, with indexed wages, and persistent inflation shocks. In these cases, a more …

custodian of low inflation and price stability. The article examines the effects of inflation as predicted and forecasted by the … relationship between fiscal and monetary authorities, the continuous struggle between inflation hawks and doves in monetary …