autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output … shows no significant response to monetary policy while the inflation response is negative. The paper endogenously determines …

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector … autoregressive (SVAR) model. The SVAR approach allows to identify US and EA specific inflation expectations shocks. By modeling the …

The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role … for monetary policy in influencing inflation in the short run. SSA's rapid growth, its integration with the global economy …, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We …

striking negative correlation between the evolution of the long-run coefficient on inflation in the monetary rule and the … evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

inflation in the United States. We test for Granger-causality out-of-sample and find, perhaps surprisingly given recent … theoretical arguments, that including money growth in simple VAR models of inflation does systematically improve out … Volcker and Greenspan eras. However, the contribution of money to inflation forecasting accuracy is quantitatively limited and …

Federation on the level of inflation using the structural autoregression model (SVAR). The results show significant inflation … 1%, inflation in the first month increases by 0.23%, and with an increase in the interbank lending rate by the same … amount, inflation increases by 0.125%. Inflation attenuation at the 90% level of significance occurs at 5 and 6 months …

mandate of price stability in the current low-inflation, low-interest-rate scenario. This paper contributes to the existing … anchoring of inflation expectations. I carry out my analysis based on a high-frequency identification and the estimation of a … forward guidance, i.e. forecasters revise their long-run expectations upwards. Consequently, inflation increases, which …

monetary policy variables impact inflation, output, money supply, and the financial sector in India. Our results for the period … that monetary policy is more efficient in explaining the variations in inflation rather than stimulating output indicating …

This paper empirically investigates the role of long-term inflation expectations for the monetary transmission … mechanism. In contrast to earlier studies, we confirm that U.S. long-term inflation expectations respond significantly to a … monetary policy shock. In line with a re-anchoring channel of monetary policy, we find that long-term inflation expectations …

We investigate the relationship between inflation uncertainty and monetary policy transmission in the U.S. economy … through the external finance premium and the term structure of interest rates appears strongly dependent on inflation …