. Even if monetary policy is found to react only mildly to inflation pre-Volcker, the substantial degrees of bounded …

inflation targeting with target zones or tolerance bands. Private-sector agents form subjective expectations, update their … data on realized macroeconomic variables and survey data on expectations for four inflation-targeting economies: Australia … policy reactions when inflation falls within the band are comparable to or even exceed the reactions when inflation moves …

and services. We combine the Harmonized Index of Consumer Prices with indices for asset prices, such as stocks and real … 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 …

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 …

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

We study how precipitation has affected food consumer price inflation (CPI), using dynamic panel estimation of food CPI …. We allow for nonlinear effects of precipitation on food CPI inflation, and also control for possible nonlinear effects of … temperature. We find that precipitation has significant nonlinear effects on food CPI inflation. The coefficient of food CPI …

This paper studies exchange rate pass-through to food and energy consumer price inflation and its dependence on the … inflation environment using cross-country panel estimation of Phillips curves. It considers a large panel of OECD member and … inflation and also significant for food CPI inflation. A 10% depreciation in the exchange rate leads to an increase in energy …

This paper studies the effects of country-specific energy prices on food consumer price inflation (CPI) within a cross … 1994 to the end of 2021. We find that energy CPI inflation has a significantly positive effect on food CPI inflation, after … inflation expectations, global food commodity prices and core CPI inflation. We also find that the effect of energy CPI …

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 …