between inflation and aggregate output. This study endeavors to advance previous studies in three ways. First, the literature …. These include the stock (and flow) of government debt, the issuance of inflation-indexed bonds, and the existence of … explicit inflation targets. Second, previous studies unfortunately exclude non-OECD countries. Third, the literature is divided …

This paper estimates a New Keynesian model with trend inflation and contrasts Taylor rules featuring fixed versus time …-varying inflation target while allowing for passive monetary policy. The estimation is conducted over the Great Inflation and the Great … Moderation periods. Time-varying inflation target empirically fits better and active monetary policy prevails in both periods …

We propose and test a new explanation for the rise and fall of the Great Inflation, a defining event in macroeconomics … inflation and further lowered the real return to saving, setting off an inflation spiral. The repeal of Regulation Q broke the … spiral by sending deposit rates sharply higher. We document that the rise and fall of the Great Inflation lines up closely …

We analyze the optimal window length in the average inflation targeting rule within a Behavioral THANK model of Pfäuti … effects of uncertainty about hitting the ELB in the future, leading to a downward inflation bias in the case of the global …

Online appendix to the article "Average Inflation Targeting in a Behavioral Heterogeneous Agent New Keynesian Model …

This paper empirically analyzes whether and to what extent the adoption of inflation targeting (IT) in Korea, Indonesia …, Thailand and the Philippines has affected their business cycle synchronization with the rest of the world. By employing the … international business cycle synchronization and the effect is positive in some of the countries, if any. These findings basically …

This paper extends a standard New Keynesian model to describe the effects of anticipated shocks to inflation and …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open … inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers … illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of …