gap coefficient is higher in the recessionary regime than in the normal one. The estimate of the inflation coefficient …

inflation target and its exposure to political pressures. We apply our methodology to Brazil as well to highlight its advantages … based on the changes in actual inflation rate do not perform very well in environments of chronic inflation. We design an … the central bank’s ability to lower inflation expectations towards its inflation target via current interest rate …

estimation provides substantial evidence that the inflation and output preferences of the Fed have varied through time …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policymakers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policymakers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response … policy-makers at the time. -- Inflation ; Price Stability ; Monetary Policy ; Monetary Targeting ; Policy Rules …

fiscal stance and inflation using cross-country data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …