conditions and to any form of intertemporal or nominal-real links. They are easy to employ in practice, using inflation protected … bonds to infer real rates. With a time-varying inflation target, they can implement arbitrary inflation dynamics, including …

implicit volatility by a decrease in the interest rate. We take our results as strong evidence that central banks use interest …

another role (e.g. responding to asset-price bubbles) beside pursuit of the inflation target. The paper concludes with some …

rate to inflation can lead to debt disinflation dynamics that destabilize the financial sector. …

pattern of correlations between exchange-rate changes and inflation that is more realistic than provided by a more standard …

The uncertainty of U.S. core inflation, measured by the stochastic volatility of forecast errors, has soared to a level … increase after a positive shock to core inflation uncertainty in a vector autoregression. Endogenous changes in household … inflation expectations help to understand the transmission mechanism through which an inflation uncertainty shock generates …