revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency …-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general …-to-specific testing strategy reveals a recursive structure where only the unemployment rate and long-term interest rates are directly …

and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …

Empirical evidence suggests that considerable differentials in inflation rates exist across households. This paper … investigates how central banks should react to household inflation heterogeneity in a tractable New Keynesian model. We include two … households that differ in their consumer price inflation rates after adverse shocks. The central bank reacts to either an average …

This paper examines the drivers of the post-pandemic surge in inflation in four small open economies: Czechia, Hungary … significantly to inflation in the post-2020 period across countries, alongside notable contributions from domestic factors …, while monetary policy shocks have had a minimal impact on inflation since 2022 in all the countries considered. Additionally …

to match past inflation. However, the present paper proposes a much larger effect by using the job finding rate as the … measure of workers' opportunities outside the firm rather than the unemployment rate, develops a dynamic model with imperfect …

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

(persistent nonfrictional unemployment, unfair inequalities, and financial instability), their policy proposals do not lead to a …

population growth has lowered both the natural rate and inflation by about 0.4 percentage points in recent decades. …