The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric … that: (1) in terms of guiding inflation expectations and policymaking, the current definition has functioned much as would … an inflation target centered on 1 1/2-1 3/4 percent; (2) the absence of a specific (point) target for medium …

The Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with … "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the … European Central Bank. While the criterion has positively influenced the public stance toward low inflation, it has biased the …

The global financial crisis has exposed the limitations of a conventional inflation targeting (IT) framework in … inflation. Accordingly, we investigate possible refinements to the IT framework by incorporating financial stability …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy …

supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have … had a sizeable impact on headline, food, and tradable inflation for a panel of 29 sub-Saharan African countries from 2000 … to 2022. Our findings suggest that central banks can stabilize inflation and output more efficiently by monitoring global …

This paper analyzes the dramatic rise in U.S. inflation since 2020, which we decompose into a rise in core inflation as … measured by the weighted median inflation rate and deviations of headline inflation from core. We explain the rise in core with …-through into core from past shocks to headline inflation. The headline shocks themselves are explained largely by increases in …

This paper explores inflation determinants within the EU and implications for new members' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …