household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain … in high inflation countries are using higher best fitting constant gain parameters than those in low inflation countries … frequently than households. Furthermore, household expectations in the Euro Area have not converged to the inflation goal of the …

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 …

We study the dynamics of inflation persistence in 45 countries for the period 1960-2008. We use a nonparametric unit … inflation data, and a test for multiple changes in persistence, which decomposes the sample information between adjacent I(0 …) and I(1) periods. We find that (1) With very few exceptions, inflation around the world rejects a unit root, (2) for …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

conducts monetary policy, highlighting the BSP's shift to inflation targeting as its monetary policy framework and the issues …

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 …

This paper first shows that the forecast error incurred when assuming that future inflation will be equal to the … inflation target announced by the central bank is typically at least as small and often smaller than forecast errors of model …-based and published inflation forecasts. It then shows that there are substantial benefits in having rule-of-thumb agents who …

In this paper I evaluate inflation targeting for ten countries. The evaluation is based on unconditional as well as … conditional measures of the variance of inflation around target. With strict inflation targeting, expectations of the future … Price Index (CPI) when calculating the inflation rate, I find that the null hypothesis can be rejected for six of ten …

We examine the evolution of monetary policy rules in a group of inflation targeting countries (Australia, Canada, New … countries, although the importance of the exchange rate diminishes after the adoption of inflation targeting. Third, the … response of interest rates to inflation is particularly strong during periods when central bankers want to break a record of …