Does an inflation conservative central bank agrave; la Rogoff (1985) remain desirable in a setting with endogenous … spending. The optimal inflation rate internalizing this distortion is positive, but lack of monetary commitment robustly … generates too much inflation. A conservative monetary authority thus remains desirable. Exclusive focus on inflation by the …

We document that about 33% of the core inflation basket in the euro area is sensitive to monetary policy shocks. We …. Estimations over different samples show that the impact of monetary policy shocks on sensitive core inflation has become larger …

margin at the expense of hiring, which makes hours too volatile. The Ramsey planner uses inflation as an instrument to dampen …

international shock propagation for the euro area, the US, Japan, the UK, China, oil-exporting economies and the rest of the world …

international shock propagation for the euro area, the US, Japan, the UK, China, oil-exporting economies and the rest of the world …