This paper presents a new mechanism through which monetary policy rules affect inflation persistence. When assuming … the traditional demand channel of monetary transmission have a long-lasting effect on inflation dynamics. The Calvo model … around positive trend inflation. With realistic calibration of trend inflation and the monetary policy rule, the model can …

We investigate drivers of Euro area inflation dynamics using a panel of regional Phillips curves and identify long …-run inflation expectations by exploiting the cross-sectional dimension of the data. Our approach simultaneously allows for the … inclusion of country-specific inflation and unemployment-gaps, as well as time-varying parameters. Our preferred panel …

and a smooth estimated trend. Based on output growth and inflation forecasts and a comparison to revised output gap …

If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation … empirical importance in explaining inflation dynamics in the US and in the euro area. …

with the interaction of stagnation and inflation is invariably based on some explicit or implicit assumptions about …

across the sample. Evidence in favour of a diminishing effect of oil price shocks on the output and inflation is found from … in the last part of the 1990s and, especially, for the CPI inflation in the 2000s. The most outstanding result is that … the oil price movements could explain at least some of the recent inflation, the main difference between these outcomes …

extreme inflation rates. The main implication of the results is that a seemingly non-distortionary policy, such as more credit …

We examine the impact of inflation on financial development in Brazil and the data available permit us to cover the … robust for different estimators and financial development measures?suggest that inflation presented deleterious effects on … Brazil by high rates of inflation, have detrimental effects to financial development, a variable that is important for …