-shaped relation between the membership size of MPCs and inflation; our results suggest that the lowest level of inflation is reached … at MPCs with about seven to ten members. Similar results are obtained for other measures, such as inflation variability …

coverage of high-frequency identified monetary policy announcements on households’ inflation expectations in an event study and …, the adaptation of inflation expectations is stronger than without coverage. Second, we find that coverage of ‘delphic … shocks lead to households lowering their inflation expectations, as opposed to coverage of a textbook, ‘odyssean’, monetary …

We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers …’ inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward-looking information …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …

This paper analyses the problem faced by CEECs wishing to join the Euro who must hit both an inflation and exchange … rate criterion during a period of nominal convergence. This process requires either an inflation differential, an … rate and inflation criteria. The authorities can use their monetary policy to hit one criterion, but must essentially just …

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the … inflation rates, both across countries and over time. Accounting for the role of GVCs, we also find that the conventional trade …

inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange … across a range of econometric tests, input-output linkages account for half of the global component of PPI inflation. We … preserves fat-tailed idiosyncratic shocks and thus leads to a fat-tailed distribution of inflation rates, i.e., periods of …