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 …

To understand the possible trajectory of inflation in 2022 and beyond, it is helpful to understand why the United … States and Europe had so much inflation in 2021. …

compensate resulting losses of purchasing power only prolong the inflationary phase. Anchored inflation expectations are key to … keeping the inflation process temporary. While this clearly falls under the responsibility of the monetary authorities, fiscal …

This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness … (Bossone, The portfolio theory of inflation and policy (in)effectiveness, 2019). The PTI shows that when an economy is heavily … and policies aimed to stimulate output growth dissipate into domestic currency depreciation and higher inflation, with …

testing approach to cointegration. Empirical results indicated that inflation in Nigeria proxied by CPI exhibited a strong … degree of inertia. The econometric results showed that past inflation and average rainfall appeared to have been the main … supply in the inflation process, lending credence to the dominance of the monetarist proposition on inflation dynamics in …

higher inflation, with limited or no impact on output. On the other hand, high credibility creates space for effective and … taken by domestic agents. The Portfolio Theory of Inflation (PTI) developed in this study assumes that some critical … resources internationally based, inter alia, on the perceived policy credibility of the national authorities and their policies …

adjustment somewhere in the system except for inflation rate. Unemployment took the burden of adjustment when the bond rate sky …

effect of monetary policy? We consider a version of the Barro–Gordon credibility problem in which monetary policy signals an … inflation-biased CB's private information on both these dimensions. We find that greater CB competence—more private information …. Inflation expectations become more responsive to monetary policy, which mitigates the CB's temptation to produce surprise …