situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

pronounced increase of aggregate US producer price inflation. …

at containing inflation and the deviation of output from potential within pre-specified bounds. We develop formal tools … this loss function under weak assumptions may be estimated from realizations for inflation and output gap data even in the … parameters with respect to the inflation and output objectives during the Greenspan period. We formally test for and reject the …

indicator and forecasting properties of the real interest rate gap for inflation, both in the model and in the data. Our results … suggest that the real interest rate gap has value as an inflation indicator, supporting the ‘neo-Wicksellian framework …

inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

inflation and growth. A genuine real-time data set for the euro area is used, including vintages of several alternative gap … clearly to a lack of any usefulness of real-time output gap estimates for inflation forecasting both in the short term (one …

Models for the twelve-month-ahead US rate of inflation, measured by the chain weighted consumer expenditure deflator … prices; introducing non-linearities to proxy state dependence in the inflation process; and replacing the information …