long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

in setting interest rates using quarterly data, covering the period since inflation targeting was formally adopted in … 2000. The classic Taylor rule is modified to determine whether the South African Reserve Bank takes into account inflation … expectations and labour market conditions. Our findings indicate that a modified Taylor rule does describe the South African …

of the Phillips curve, based constant inflation expectations, is appropriate to calculate the unemployment effects of … the Riksbank has anchored inflation expectations at the 2 percent inflation target, and second, that the original version … every year 1997-2011 misleading. We also show that the inflation targeting of the Riksbank 1995-2014 is successful compared …

We develop a model that can explain the evolution of trend inflation in the United States in the three decades before … inflation arises endogenously and has these determinants: the strength with which the central bank responds to inflation, the … degree of uncertainty about monetary policy perceived by the private sector, and, if it exists, the inflation target. Given …

augment the inflation expectations function with GDP, inflation, unemployment, fiscal stance, oil prices, and money supply …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 …

inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct … identification of these biases. Both inflation and deflationary biases are present (and sizable) in inflation expectations of these …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that … changed inflationary expectations. The disinflation process was long, and a long-term commitment by both the Central Bank and …% inflation was accomplished by introducing an inflation targeting regime. …

to unemployment over the last decade is a result of firmly anchored inflation expectations. …We study whether the trade-off between inflation and unemployment still exists in the euro area (EA). Using country …. (2022) deploying a non-tradable price index to measure inflation. We find that the slope of the Phillips curve is small and …

We construct an empirical test of whether the anticipation of adoption of inflation targeting affects the inflation … rate. We observe that most of the central banks adopt the regime after first achieving significant disinflation. With pre-inflation …-in-difference framework. We find that inflation targeting is successful in locking-in already low inflation rather than reducing high …

unemployment on inflation,for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then …-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years …