, consumption, investment and unemployment) has a distinct dynamic from disagreement about nominal variables (inflation and interest … nominal series. Country-by-country regressions for inflation and interest rates reveal that both the level of disagreement and …

, consumption, investment and unemployment) has a distinct dynamic from disagreement about nominal variables (inflation and interest … nominal series. Countryby-country regressions for inflation and interest rates reveal that both the level of disagreement and …

near-term economic outlook, characterised by persistently low nominal interest rates and inflation, and in a lasting low …-real-interest-rate world. Our findings suggest that, if unaddressed, the lower bound can have very substantial costs in terms of worsened …

adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …

), in a world that is increasingly digital, and of the effectiveness of NIRP, which is not being properly transmitted by …

transmit to output and inflation and lead to fluctuations in industrial production, consumer prices and immediate interest … the channels through which oil prices affect output, inflation and interest rates should be identified by the monetary …

an estimated DSGE model. It finds that the disconnect is due primarily to the muted reaction of inflation to cost … inflation stabilization also appears to have played some role by reducing the impact of demand shocks on the real economy. The …