consiste en un modelo de elección discreta (probit dinámico) que considera los cambios discretos y poco frecuentes en la tasa …

inflation and if they faced a high probability of being replaced. No such effects were found for OECD-countries. …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting … than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no …, inflation appears to be (nearly) purely forward-looking, so that no mechanism introducing backward-looking components is … necessary to fit the data. These results question the notion that the intrinsic inflation persistence found in post-WWII U …

analysis proves that a higher degree of central bank independence would statistically improve the inflation performance in the … entire region and in the two subsamples, basically by lowering the inflation rates level and decreasing volatility. Finally …

Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early … 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a … checkered history of managing inflation among many EMDEs, disinflation occurred across all regions. This paper presents a …

This paper presents a model that pictures how inflation is determined in a decentralized market process where prices … setters of sequential contracts. An important property of the model is that inflation thus can be explained without any … reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …