bond yields lead to a significant rise in real GDP, consumer prices, inflation expectations, and credit volume in the euro …

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

investigates to what extent the quality of eligible collateral is able to explain inflation employing the first comprehensive … statistically significant correlation between QEC and average inflation is found. This result is robust to the use of control …

these matters. These postulates are used to frame accounts of the Bretton Woods System and its collapse, the Great Inflation … success of inflation targeting. Though monetary policy seems rather successful at present, certain weaknesses in currently …

We examine whether models of inflation forecast targeting are consistent with the observed behaviour of the central … paths of variables targeted by the central bank, in particular inflation and the output gap. We estimate various moment … examine the extent to which and the manner in which these central banks successfully balance inflation and output objectives …

In this paper we examine some of the issues which will arise if the European Central Bank adopts "direct inflation …" targeting after the adoption of the single currency in Europe. One issue is how big the deviations in national inflation rates … form the European average might be. Another is the definition of the inflation rate to be targeted. …