the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation … estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of …

This paper develops a set of leading indicators of industrial production growth and consumer price inflation for the … inflation. Our findings provide evidence on the factors determining real activity and inflation in a period of disinflation and …

Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no …, inflation appears to be (nearly) purely forward-looking, so that no mechanism introducing backward-looking components is … necessary to fit the data. These results question the notion that the intrinsic inflation persistence found in post-WWII U …

Inflation has been well contained over the last decades in most industrialized countries. This implies, however, that … memories of high inflation are likely to fade, because over time larger parts of the population have never experienced high … inflation, whereas those who have might forget. This paper tests whether memories of high inflation affect agents’ preferences …

countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …. Second, the fit markedly improves, when correcting for variation in output growth and the opportunity cost of money, using …

The adoption of a credible monetary policy regime such as inflation targeting is known to reduce the persistence of … inflation fluctuations. This conclusion, however, is derived from aggregate inflation or sectoral inflation rates, not from … regional inflation data. This paper studies the regional dimension of inflation targeting, i.e. the consequences of inflation …

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting … than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher …

credibility a pegged exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy … for a policy-maker to adopt inflation targeting over a strict exchange rate targeting regime. Full credibility is not a … precondition, but exposure to foreign and financial shocks and high steady state inflation make joining the EMU relatively more …

pressure on inflation at times of weak as opposed to strong growth; thereby rationalizing relatively stronger expansionary …We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale …

The purpose of this paper is to examine inflation targeting (IT) in emerging countries by concentrating essentially on … of this paper is on Brazil, which began inflation targeting in 1999, we also examine the experience of other countries … in the fight against inflation. …