increase in inflation. The model explains the joint dynamics of output, inflation, real wages, and interest rates, and is …

interest rate policy has worked better for boosting inflation in Italy and Spain than in Germany. …

The term structure of inflation forecasts disagreement in the US can be summarized by two components: disagreement … about the trend inflation, and disagreement about the cyclical inflation. While the former has identical impacts on … forecasting horizons. Only the cyclical inflation disagreement has a significant impact on monetary policy efficacy. High …