to real economic developments even as it focuses on an inflation objective. Using monthly data, we show how speeches by … the Bundesbank's President dealing with inflation help explain both interest rate movements as well as the central bank …

inflation targeting regime. Two different empirical frameworks are used: (i) a Generalized Method of Moments (GMM) estimation of …

This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on … for low inflation. Using data for four G7 economies, the paper shows that, except for Germany, nonlinear and asymmetric … monetary authority develops a greater precautionary demand for output expansions than for low inflation. This may generate a …

This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on … for low inflation. Using data for four G7 economies, the paper shows that, except for Germany, nonlinear and asymmetric … monetary authority develops a greater precautionary demand for output expansions than for low inflation. This may generate a …

This paper analyzes the time-varying degree of inflation expectations anchoring in Bolivia and, more precisely, whether … inflation expectations have been in line with the inflation objectives announced by the Central Bank of Bolivia (BCB, for its … and medium-term inflation expectations. Second, monetary policy in Bolivia is under a monetary-targeting regime, so BCB …

inflation in the durable goods sector. We then analyze the optimal Taylor rule for this economy. If the monetary authority wants … to stabilize the aggregate output gap, it places much more emphasis on stabilizing durable goods inflation (relative to … its share of value-added in the economy). In contrast, if the monetary authority values stabilizing aggregate inflation …

raising their interest rate instrument more than one-for-one in response to higher inflation - to an environment in which …