: lagged expectations about monetary policy influence the current inflation rate through an indexation rule. No structural … inflation persistence is assumed. We show that this model can capture stylized facts about short-run inflation dynamics both in … between the degree of inflation persistence and the stability and transparency of monetary policy. Thereby, our model can …

(notably residential property) and inflation; and it looks at the role of public debt for consumer price developments. On the … basis of a VAR analysis, the study finds that i) global money demand shocks affect global inflation and also global … commodity prices, which in turn impact on inflation; global asset/property price dynamics appear to respond to financing cost …

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

mechanical influence on CPI inflation and wage dynamics through the indexation schemes. We also illustrate that any fine …-tuning strategy which tries to counteract the direct effects of oil-price changes in headline inflation would prove counterproductive … both in terms to stabilization of underlying inflation and by causing unnecessary volatility in the macroeconomic landscape …

macroeconomic model and find that in absence of these measures both inflation and output would have been significantly lower …

house price inflation, strong private debt growth and low credit risk spreads. The results suggest that (i) monetary policy …

-neutrality, I find that money supply shocks are less effective at stimulating inflation in recessions than in expansions. In terms of … quantitative magnitude, the impact effect on inflation of a money supply shock is about half as large during recessions than during …