Monetary policy is sometimes formulated in terms of a target level of inflation, a fixed time horizon and a constant …

We investigate co-movements and heterogeneity in inflation dynamics of different regions within and across euro area … countries using a novel disaggregate dataset to improve the understanding of inflation differentials in the European Monetary … Union. We employ a model where regional inflation dynamics are explained by common euro area and country specific factors as …

Using a set of regional inflation rates we examine the dynamics of inflation dispersion within the U.S.A., Japan and … across U.S. and Canadian regions. We find that inflation rate dispersion is significant throughout the sample period in all … reversion (?- convergence) in inflation rates in all considered samples. The evidence on ?-convergence is mixed, however …

Using a unique data set of regional inflation rates we are examining the extent and dynamics of inflation dispersion in … mean reversion (?-convergence) in inflation rates. However, half-lives to convergence are considerable and seem to have … the further convergence has proceeded. An examination of the dynamics of overall inflation dispersion (?-convergence …

inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be … modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …

or inflation as in the empirical two-pillar Phillips curves estimated in some recent contributions, it would be optimal …-checking does not require direct effects of money on output or inflation. …

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …