We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …

and inflation in the member countries. Stress in a country is defined as the difference between the country's actual short …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

predicts a short-term inflation-output trade-off, a liquidity effect, countercyclical markups, and procyclical wages after …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country’s inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

different predictions for the optimal inflation rate than their popular homogenous-firm counterparts: (1) the optimal steady …-state inflation rate generically differs from zero and (2) inflation optimally responds to productivity disturbances. We show this by … estimate the historically optimal inflation path for the U.S. economy. In the year 1977, the optimal inflation rate stood at 1 …