hand and the inflation rate on the other hand. Empirically, we estimate this relationship by developing three different … markets for goods and services will push up inflation. We show the empirical relevance of the modified output gap for Spain …

Long-term bond yields contain a risk-premium, an important part of which is compensation for inflation risks. The …

, consumption, investment and unemployment) has a distinct dynamic from disagreement about nominal variables (inflation and interest … nominal series. Country-by-country regressions for inflation and interest rates reveal that both the level of disagreement and …

inflation targeting with target zones or tolerance bands. Private-sector agents form subjective expectations, update their … data on realized macroeconomic variables and survey data on expectations for four inflation-targeting economies: Australia … policy reactions when inflation falls within the band are comparable to or even exceed the reactions when inflation moves …

policy is not constrained by the ZLB. The neutral rate - the level of the policy rate consistent with stable inflation and …

to generate inflation risks on long-term nominal bonds when placing high coefficient on the output gap in the Taylor rule …. Our model is able to generate inflation risks when the coefficient on the output gap is small. In the entry model real … risks are lower and inflation risks are ceteris paribus higher than in the standard New Keynesian model without entry due to …

policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks … explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total …

do not force a central bank to tolerate higher inflation, but may generate a tradeoff between the central bank …'s objectives for inflation and real activity. The presence and size of this tradeoff depends on how flexible prices are in the …

Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …