inflation and money growth rates and interest rates and money growth rates. Like Whiteman (1984), we relate those scatter plots …

Kingdom, Japan and the Euro Area. For these four economies, we answer the following research questions: (i) How can we …

This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the …

) by adding frictions such as price indexation to past inflation, sticky wages, consumption habits and variable capital …

area (EA) and the US. The estimations show that until mid-2014 the ECB's response to inflation was more forceful when … inflation was above 2% than below 2%. Since then, the ECB's policy can be characterised as symmetric, and we quantify the … bound and a low neutral real rate, and find that it prescribes a stronger response to inflation and the output gap when …

shocks to four small open economies (Canada, New Zealand, Norway and UK). The results show that foreign shocks explain a …

Using data from Germany, Japan, UK, and the U.S., we explore possible threshold cointegration in nominal short- and … long-run interest rates with corresponding inflation rates. Traditional cointegration implies perfect mean reversion in …