model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Why is inflation so much lower and at the same time more stable in developed economies in the 1990s, compared with the … inflation equilibrium. Our argument builds on the story proposed by Tom Sargent in The conquest of American inflation, where the … fall in inflation in the 1980s was attributed to the changing beliefs informing monetary policy. To explain the escape in …

Many central banks have abandoned monetary targeting because the link between money growth and inflation seemed to … a unit relationship between money growth and inflation at low frequencies when the impact of interest rate changes on … is combined with high-frequency information from the output gap to explain movements in inflation. …

analysing inflation. The Swiss National Bank emphasises that the indicators it uses to do so vary across forecasting horizons … spectral regressions and causality tests in the frequency domain, we show that this interpretation of the inflation process …

band spectrum regression to study the determination of inflation in Japan. We find that inflation is related to money … reflects Granger causality from money growth and the output gap to inflation in the relevant frequency bands. …

We study the determination of Irish inflation between 1935 and 2012 using a Phillips curve approach. We find that a … of diagnostic tests. We also consider the importance of UK and euro area inflation for Irish inflation. While UK … inflation is significant in the period 1935 – 1979, and euro area inflation is significant in the period 1980 – 2012, we present …

inflation at different time horizons or frequency bands. The ECB has publicly supported this understanding of the framework …. This paper presents further evidence on the behaviour of euro area inflation using band spectrum regressions, which allow … frequency domain. The main finding is that variations in inflation are well explained by low-frequency movements of money and …

with targeting the rate of inflation. Critical advances in the measurement of inflation have proved decisive in bringing …