This paper introduces a global database that contains inflation series: (i) for a wide range of inflation measures … (headline, food, energy, and core consumer price inflation; producer price inflation; and gross domestic product deflator … available sources, our database constitutes a comprehensive, single source for inflation series. We illustrate the potential use …

Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early … 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a … checkered history of managing inflation among many EMDEs, disinflation occurred across all regions. This paper presents a …

employment), inflation and the price level. This paper assesses how these tradeoffs have evolved over time and varied across … outcomes and tradeoffs. We also calculate Sacrifice Ratios (output losses per inflation reduction) and document a historically …

and Galí (2006, 2008) New-Keynesian model of inflation and unemployment, where labor market frictions due to costs of … alternative values of hiring costs as a percentage of GDP. Under low hiring costs - a typical part of the U.S. calibration - for … policy rules based on current period inflation and unemployment our results are similar to those of Bullard and Mitra (2002 …

.The cost channel makes monetary policy less effective in combatting inflation, but it is shown that the optimal response to the …

effective in combating inflation, but it is shown that the optimal response to the decline in effectiveness is a stronger use of …: commitment outperforms the Taylor rule, the Taylor rule outperforms strict inflation targeting, and strict inflation targeting …

anticipation of a future cost shock may only occur if prices are sufficiently flexible. We show analytically that this result holds … ; Optimal Monetary Policy ; Sticky Prices ; Welfare Analysis …

Turkey's inflation and the likely costs and benefits of disinflation. …, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays …, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises …

's objectives for inflation and real activity. The presence and size of this tradeoff depends on how flexible prices are in the … do not force a central bank to tolerate higher inflation, but may generate a tradeoff between the central bank …