- dependent economies both in temporary inflation and deflation as well as in output expansion and contraction. Compared to an … interest rate Taylor rule a money growth rule is more appropriate to reduce the volatility of the CPI inflation rate whereas …

ability to simultaneously achieve low inflation and stable output. Against this background, the paper studies monetary policy … with respect to output and inflation stabilisation. The analysis puts special emphasis on the impact of price and real wage … second round effects and complicates stabilisation whatever the policy rule. A focus on core inflation tends to limit the …

ability to simultaneously achieve low inflation and stable output. Against this background, the paper studies monetary policy … with respect to output and inflation stabilisation. The analysis puts special emphasis on the impact of price and real wage … second round effects and complicates stabilisation whatever the policy rule. A focus on core inflation tends to limit the …

in inflation. In the 2000's, even larger increases in the price of oil were associated with much milder movements in … output and inflation. Using a structural VAR approach, Blanchard and Gali (2009) argued that this reflected a change in the … causal relation from the price of oil to output and inflation. They then argued that this change could be due to a …

inflation. In the 2000s, and at least until the end of 2007, even larger increases in the price of oil were associated with much … milder movements in output and inflation. Using a structural VAR approach Blanchard and Gali (2007a) argued that this has … reflected in large part a change in the causal relation from the price of oil to output and inflation. In order to shed light on …

inflation. In the 2000s, and at least until the end of 2007, even larger increases in the price of oil were associated with much … milder movements in output and inflation. Using a structural VAR approach Blanchard and Gali (2007a) argued that this has … reflected in large part a change in the causal relation from the price of oil to output and inflation. In order to shed light on …

inflation. In the 2000s, and at least until the end of 2007, even larger increases in the price of oil were associated with much … milder movements in output and inflation. Using a structural VAR approach Blanchard and Gali (2007a) argued that this has … reflected in large part a change in the causal relation from the price of oil to output and inflation. In order to shed light on …