This paper studies the effect of monetary policy on inflation along the income distribution in several euro area …. On the one hand, different consumption shares imply that inflation by high-income households responds less to monetary … its reaction to monetary policy, which imply that inflation by high-income households responds more to monetary policy. …

response of the interest rate to changes in sectoral inflation due to standard supply shocks, conditional on a given … environmental policy. We then compare the performance of a nonstandard monetary rule with sectoral inflation targets to that of a … sectors. Second, compared with a standard Taylor rule targeting aggregate inflation, a monetary policy rule with asymmetric …

inflation, output gap and difference in the interest rate as target variables. The second loss function includes an additional … wage inflation target. The weights assigned to the target variables in the loss functions, i.e. the preferences of monetary … policy, are estimated jointly with the structural parameters in the model. The results imply that inflation variability …

inflation and financial stabilization. …

reunification. A policy that separates learning from control may induce a persistent upward bias in money growth and inflation, just …

inflation, output gap and difference in the interest rate as target variables. The second loss function includes an additional … wage inflation target. The weights assigned to the target variables in the loss functions, i.e. the preferences of monetary … policy, are estimated jointly with the structural parameters in the model. The results imply that inflation variability …

respect to the long-run expectation of inflation and the equilibrium real interest rate. A preliminary analysis shows that … points. We observe an important difference between the estimated inflation target of the central bank and the perceived long …-run inflation expectation of private agents, implying the latter were weakly anchored. This is especially the case for the period …

inflation, output gap and difference in the interest rate as target variables. The second loss function includes an additional … wage inflation target. The weights assigned to the target variables in the loss functions, i.e. the preferences of monetary … policy, are estimated jointly with the structural parameters in the model. The results imply that inflation variability …