interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for … a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this …

particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared … inflation reduces uncertainty about future price developments. This facilitates decision-making for companies concerning …

economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …

have a stronger bargaining position when they try to prevent a cut in nominal wages. If inflation is so low that some … a long run trade off between inflation and unemployment for low levels of inflation. The prediction that low inflation …

good inflation. In addition, the Ramsey optimal monetary policy can be approximated reasonably well with a Taylor …-type interest rate rule with weights on both inflation rates and output. …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …