supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help …

Price level targeting has been proposed as an alternative to inflation targeting that may confer benefits if a central … bank sets policy under discretion, even if societyu0092s loss function is specified in terms of inflation (instead of price …-of-thumb to form inflation expectations, or does not fully understand the nature of the target, price level targeting may in fact …

In this paper we assess the importance given in capital markets to the credibility of the European fiscal framework. We …

Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects … already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining … influence of inflation on factor substitution. It turns out that already in a simple neoclassical monetary growth model this …

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this …. Robustly to alternative definitions of the relative price, identification schemes dictated by two-sided (S,s) pricing theory … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of … monetary inflation. The proposed measure is characterised by all the properties that an u0093idealu0094 core inflation process …

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the …Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be …