We analyze the impact of price stability-oriented monetary strategies (inflation targeting - IT - and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993-2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

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. …

We study the dynamics of inflation persistence in 45 countries for the period 1960-2008. We use a nonparametric unit … inflation data, and a test for multiple changes in persistence, which decomposes the sample information between adjacent I(0 …) and I(1) periods. We find that (1) With very few exceptions, inflation around the world rejects a unit root, (2) for …

We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

We study the dynamics of inflation persistence in 45 countries for the period 1960-2008. We use a nonparametric unit … inflation data, and a test for multiple changes in persistence, which decomposes the sample information between adjacent I(0 …) and I(1) periods. We find that (1) With very few exceptions, inflation around the world rejects a unit root, (2) for …

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. -- Global excess … liquidity ; euro area ; inflation ; monetary policy ; interest rate channel ; forecasting accuracy. …

indicator for monetary policy, showed almost no inflation. This twin development is a puzzle as the evolution of consumer prices … were not responsive to record low interest rates, double-digit commodity inflation, and a sharp depreciation of the dollar … expansionary monetary policy stance with persistent commodity price inflation, subsequent severe world recession, and financial …

inadequate policy tools and theory from the interwar period, set the stage for the Great Inflation of the 1970s. The lessons from … that experience have convinced monetary authorities to reemphasize the goal of low inflation, as it were, committing …