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inflation lead to lower sacrifice ratios. Opportunistic disinflations are desirable when credibility is low …
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inflation lead to lower sacrifice ratios. Opportunistic disinflations are desirable when credibility is low …
Persistent link: https://www.econbiz.de/10013015268
inflation and the role of inflation expectations. In relation to the recent weakness of inflation, we discuss the role of firm … supports the view that the absorption of slack and a firm anchoring of inflation expectations remain central to successful … inflation stabilisation …
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instrument has a stochastic impact on inflation. This type of uncertainty is particularly interesting, since it affects the … case of the introduction of uncertainty at the margin. Furthermore, the coefficient of variation of inflation appears to …
Persistent link: https://www.econbiz.de/10012728879
output or inflation as in the empirical quot;two-pillarquot; Phillips curves estimated in some recent contributions, it would … of ECB-style cross-checking does not require direct effects of money on output or inflation …
Persistent link: https://www.econbiz.de/10012731249
output or inflation as in the empirical "two-pillar" Phillips curves estimated in some recent contributions, it would be …-checking does not require direct effects of money on output or inflation …
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Using US data, we estimate optimal policy with a probability below one that the Fed reneges on its commitment ("limited credibility") versus discretionary policy where the Fed reneges on its commitment at all periods with a probability equal to one ("zero credibility"). The transmission...
Persistent link: https://www.econbiz.de/10011695111