This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period … 1970-2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal … economic conditions, as well as monetary policy type, exchange rate regimes and fiscal rules, at the time of the shock. We …

to assess the potential impact of different combinations of monetary and fiscal policies on output, inflation, and the …

Central banks in major industrialized economies were slow to react to the surge in inflation that began in early 2021 … war in Ukraine. We investigate the consequences of policy delay in responding to inflation shocks. First, using a simple … three-period model, we show how policy delay worsens inflation outcomes, but can mitigate or even reverse the output decline …

sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries …

results suggest that under Colombia's inflation targeting regime, which incorporates exchange rate flexibility and a highly …

skewed distribution of outcomes. This creates a significant trade-off for central banks, balancing increased inflation risks … against reduced output. Our results suggest modifying the Taylor rule to give equal weight to responses to both inflation and …

a very low coefficient on inflation, which minimizes real wage volatility. The welfare gains of optimizing the fiscal …

a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensures a stable government debt …