developed by Blanchard/Gali (2008). If the central bank responds only to (current, lagged or expected future) inflation and … helps to restore determinacy if skill decay exceeds the threshold level. However, a modest response to unemployment … unemployment extremely persistently. …

The evaluation of forecasts performance of market expectations about the Brazilian inflation rate (Focus survey) is …) showed that, in the period 2000.1 2005.4, several models had superior forecast ability than the mean of market inflation rate …

This paper analyses the response of inflation in the euro area to five macroeconomic shocks through the use of results … a TFP shock, generate marked inflation persistence. In contrast, an indirect tax and an oil price shock appear much less … persistent and a social security shock generates less inflation persistence in the majority of the countries (although some weak …

for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus … non-monetary (economic and fiscal) determinants of inflation in these countries as well as formal econometric evidence on … predicting inflation at longer (3-year) horizons. …

This paper provides a review of the concept of core inflation and evaluates the performance of several proposed … measures. We first consider the rationale of a central bank in setting its inflation goal in terms of a selected rate of … consumer price growth and the use of a core inflation measure as a means of achieving this long-term policy objective. We then …

We investigate optimal horizons for targeting inflation in response to different shocks and their properties under … alternative preferences of an inflation-targeting central bank. Our analysis is based on a well specified macroeconometric model … inflation and output. Successful inflation targeting in such cases may require a complex interest rate response. The optimal …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. -- Global excess … liquidity ; euro area ; inflation ; monetary policy ; interest rate channel ; forecasting accuracy. …

for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus … non-monetary (economic and fiscal) determinants of inflation in these countries as well as formal econometric evidence on … predicting inflation at longer (3-year) horizons. -- Inflation forecasting ; leading indicators ; monetary policy ; information …

The evaluation of forecasts performance of market expectations about the Brazilian inflation rate (Focus survey) is …) showed that, in the period 2000.1 2005.4, several models had superior forecast ability than the mean of market inflation rate …

We provide new insights on the formation of inflation expectations – in particular at a time of great financial and … answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common … information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results …