inflation and output stabilisation mandates of the CBN. The study also finds that inclusion of more instruments in the CBN … therefore emphasises the difficulty of the CBN to effectively manage inflation and output stabilisation simultaneously, which …

output and real-rate gaps can be represented in a parsimonious and practical manner using the theory of anelasticity that …

Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long …-run equilibrium properties, results offer overall support for the traditional economic theory. …

Real wages are a key determinant of marginal costs. The latter themselves are a driving force of inflation. We ask how … wages and labor market shocks feed into the inflation process. We model search and matching frictions in the labour market … the conduct of stabilization policy. -- labor market ; wage rigidity ; bargaining ; Bayesian estimation …

economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no …

degree. With respect to inflation, the NBP and the SNB look far into the future, while the BoE seems to concentrate on … current inflation. As to output, the BoE and the SNB take into account its future or current value while for the NBP this …

perceived as less credible, anticipation effects are attenuated and, accordingly, output and inflation do not respond as …