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 …

patterns in economic activity and inflation following oil price shocks in the euro area. In the 'normal regime', oil price … shocks are followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the … same direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a …

We investigate asymmetries in the relationship between the cross-sectional mean (aggregate) rate of inflation and the … parameterisations reveal that the inflation-standard deviation and inflation-skewness relationships exhibit pronounced U …-shaped asymmetries around the historical mean rate of inflation. UK sectoral inflation data supports our results, and indicates that our …

inflation and survey measures of long- and short-term expectations. In the first approach, we jointly estimate a model of … inflation, survey expectations and monetary policy, where each is a function of a common time-varying inflation trend. In the … estimates, long-term expectations track closely the unobserved trend that is an important factor in inflation dynamics, implying …

The link between London interbank interest rates and future inflation in the UK is investigated over a period which … includes several changes in monetary policy regime. Recursive estimation is used to identify appropriate breakpoints in the … interest rates and future inflation is found to break down after 1985 …

inflation. During crises periods, the strength of the transmission of inflation uncertainty shocks from one country to another … tends to intensify. This paper examines empirical methodologies to measure the strength of the interdependence of inflation … uncertainty between the UK and the euro area. We first estimate inflation uncertainty by expost forecast errors from a bivariate …

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 …

affects the relation between nominal interest rates, inflation expectations, and real interest rates. The benchmark parameters … include stronger inflation targeting and more active monetary policy …

This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation … forecasts of inflation) but also makes forecasters less uncertain about their own beliefs, thus reducing ex-ante average … individual uncertainty. By combining and exploiting these types of ex-ante inflation uncertainty, results suggest that central …

Producing and revealing inflation forecasts is believed to be the best way of implementing a forward-looking monetary … policy. The article focuses on inflation forecast targeting (IFT) at the Czech National Bank (CNB) in terms of its efficiency … in shaping consumers' inflation expectations. The goal of the study is to verify accuracy of the inflation forecasts, and …