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Haldane, Andrew G. - 1998

This paper discusses some of the operational issues relevant to the implementation of an inflation-targeting regime. In particular it focuses on: whether inflation targeting is 'new'; whether (and how) the forward-looking nature of inflation-targeting helps to prevent instabilities in inflation;...

Persistent link: https://www.econbiz.de/10014070205

Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve

Vaona, Andrea - 2016

Money long-run super-neutrality and the vertical long-run Phillips curve are two widely shared beliefs in the economics profession and among economic policy-makers. The present survey is devoted to anomalous empirical evidence which challenges this view. We consider a variety of studies,...

Persistent link: https://www.econbiz.de/10011456445

Determinants and Implications of Low Global Inflation Rates

Berganza, Juan Carlos - 2017

In this paper we look at global inflation trends over the last decade and try to disentangle factors that could explain the ultra-low levels of inflation during the recovery from the Great Recession. We review the literature on the subject, which points at possible structural shifts in price and...

Persistent link: https://www.econbiz.de/10012966702

Phillips Curves and Unemployment Dynamics : A Critique and a Holistic Perspective

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2021

reaction theory (CRT), should be used to jointly explain the evolution of inflation and unemployment. A further attraction of …The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate …

Persistent link: https://www.econbiz.de/10013317465

Inflation volatility in small and large advanced open economies

Mozzanica, Mirco Balatti - 2020

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...

Persistent link: https://www.econbiz.de/10012249671

The Effect of Commodity Price Shocks on Underlying Inflation : The Role of Central Bank Credibility

Davis, Scott - 2015

This paper seeks to document and explain the effect of a commodity price shock on underlying core inflation, and how that effect changes both across time and across countries. Impulse responses derived from a structural VAR model show that across many countries there was a break in the response...

Persistent link: https://www.econbiz.de/10013036232

Demand Shocks and the Cyclical Behavior of the Real Wage : Some International Evidence

Kandil, Magda - 2010

The focus of this investigation is on the cyclical response of the real wage to demand shocks. This response differentiates the empirical validity of major New Keynesian explanations of business cycles. The empirical evidence, across industrial countries, highlights a moderate positive...

Persistent link: https://www.econbiz.de/10013142097

Inflation, unemployment, and monetary policy : the Alvin Hansen Symposium on Public Policy, Harvard University

Solow, Robert M. (contributor); Taylor, John B. (contributor) - 1998

Persistent link: https://www.econbiz.de/10000627730

Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen

Beissinger, Thomas; Knoppik, Christoph - 2003

möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren …In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …

Persistent link: https://www.econbiz.de/10010261537

The Post-Pandemic Inflation and Central Bank Independence

Leitão Amaro, António - 2023

The ongoing post-pandemic inflation burst has put the monetary policy framework, its governance alternatives, and the evolution in central banking to a critical test. investigates the causes of this inflationary process and explores the extent to which central banks may have contributed to it....

Persistent link: https://www.econbiz.de/10014349722