experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …

This study analyses the aspect of inflation expectations management in the context of inflation targeting by … particularly focusing on the impact of exchange rate pass-through to inflation expectations in a small open economy. We also … augment the inflation expectations function with GDP, inflation, unemployment, fiscal stance, oil prices, and money supply …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the "standard model" suffice to explain the broad contours of macroeconomic outcomes in …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

We use an estimated medium-scale HANK model to investigate how the tradeoff between stabilizing inflation and … demand shocks via their exposure to highly procyclical profits-for them, stabilizing consumption and inflation coincide. The … poor are more vulnerable to supply shocks, hence aggressively stabilizing inflation is costly in terms of their consumption …

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 …

The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two … on the trade balance are necessary conditions for stability. It is shown that the effects of a devaluation on aggregate … demand, growth, trade balance, and inflation are generally ambiguous and highly contingent on the parameter constellation of …

deliver the lowest welfare loss. Under the assumptions taken, the strict inflation-targeting regime is identified as the best …

overly sensitive to monetary policy shocks, and that this is consistent with a model where long-term inflation expectations … are not anchored because agents must infer the central bankś inflation target from noisy interest rate movements. Using … inflation target - imperfect information about the target plays only a small role in un-anchoring expectations in their model …

impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation …