disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation … episode price-setting firms' expect inflation to be highly persistent and opt for backward-looking indexation. As the central … bank acts to bring inflation under control, price-setting firms revise their estimates of the degree of persistence. Such …

of their specific occupational background. Third, party members react significantly less to inflation and more to output …

This paper examines the relationship between the output gap and inflation in Japan by estimating Phillips curves and … testing for changes since the advent of low inflation and/or the stabilisation of the rate of change of inflation. The work … provides empirical support for the hypothesis of a change in the relationship between output and inflation in an environment of …

Inflation dynamics in Brazil are high and volatile. This short paper seeks to shed some light on the features of … inflation in Brazil and provides a non-exhaustive list, in the way of a primer, of factors that are especially important. It … also offers some suggestions for how monetary policy could deal with these factors to control inflation and bring interest …

This paper explores the impact of the adoption of inflation targeting (IT) on the dynamics of city-level inflation in … Korea using both aggregate and sector-level data. When looking at aggregate regional inflation, we find that the mean … the literature. We also note a narrowing of the dispersion of regional inflation across cities and a greater degree of …

Whereas strong demand is a key factor driving high inflation in the US, inflation in the Euro Area is mainly due to … prevent second-round effects. Long run inflation expectations - as measured by the survey of professional forecasters - still … seem to be well anchored. The ECB’s announced tightening intends to dampen rising household’s inflation expectations. Given …

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central … bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the … transmission mechanism. Generally there is still an inflation bias, despite the absence of a time-inconsistency problem. It is …

that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central … bank precommits by setting the policy instrument, and the subsequent adjustment of inflation expectations is part of the … transmission mechanism. Generally there is still an inflation bias, despite the absence of a time-inconsistency problem. It is …