on output and, in particular, also on inflation in the euro area under alternative settings for monetary policy. We … that this over-proportionality is stronger for the fiscal multiplier on inflation than on output. We relate this finding to …

more weight on alternative indicators of inflation pressure such as wage settlements, trends in unit labour costs and a … wide range of indicators of inflation expectations. The recent fall in margins observed in some countries may, for instance … States, the large unemployment gap could also keep wage inflation under pressure despite a flattening Phillips curve. These …

neighborhood and unobserved heterogeneity of countries of the region to analyze the effects of Policy mix on inflation, the output … mechanism of propagation of shocks affecting the level of inflation and a mecanisme for output stabilization. …

. Under discretionary monetary policy the size of the inflation bias depends on the fiscal policy regime. Using the timeless … alternative fiscal policy rules, and inflation and output persistence reflects the economic data. With the deficit rules, the …

We develop a theoretical framework to account for the observed instability of the link between inflation and …fiscal … bank that has full control over inflation. When policy makers deviate from this Virtuous regime, agents conduct Bayesian … pessimistic about a prompt return to the Virtuous regime and inflation starts drifting in response to a fiscal imbalance. Shocks …

domestic policies, instead of oil-boom should be blamed for inflation. Also, oil price variations are driven mostly by oil …

A low-inflation mystery emerged during the 2010-2019 period as the Federal Reserve struggled to hit its two percent … inflation target. This paper presents theoretical results and empirical evidence that points to the safe asset shortage as a key … reason for the low inflation during this time. Specifically, the paper shows that the safe asset shortage was part of a …

inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …