, and time-varying trend inflation using post-WWII U.S. data. The model embedding the stochastic target performs better in … policy aggressiveness and inflation gap persistence. …

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 …

the inflation rate, the deviation in real GDP (Gross Domestic Product), the deviation in money supply, the deviation in … weight to the deviation in unemployment rate, and moderate weights are assigned to the deviation in the inflation rate, the …

The transition economies were remarkably successful in curbing the inflation that took place after the initial … transition and shocks and, more recently, most of the countries have brought inflation down to the levels found in major … have played an important role. The paper also surveys the literature on the quality of the inflation data, the extent to …

Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major … same country. Two types of monetary policy, inflation targeting (IT) and price level targeting (PT), have very different … ; Inflation: costs and benefits ; Inflation targets ; Inflation and prices …

Inflation rates in a number of OECD follow a common trend over the past four decades: inflation starts out low in the … in the behavior of trend inflation suggests that any explanation of long run inflation trends ought to apply across OECD …-varying NAIRU, can explain long run trends in U.S. inflation. In this paper we show that this result cannot serve as an explanation …

characterized by weaker output growth, higher inflation, and higher interest rates. -- Financial stability ; monetary policy and …