Inflation: Drivers and Dynamics | 2019 CEBRA Annual Meeting Session Summary-Reference-Cited by-同舟云学术

Inflation: Drivers and Dynamics | 2019 CEBRA Annual Meeting Session Summary

Published:2020-06-25 Issue: Volume: Page:1-3
ISSN:2163-3738
Container-title:Economic Commentary (Federal Reserve Bank of Cleveland)
language:en
Short-container-title:EC (FRB Cleveland)

Author:

Haber Timo¹,Knotek Edward S.²^ORCID,L’Huillier Jean-Paul³,Ortiz Julio⁴,Pfajfar Damjan⁵,Rich Robert W.²^ORCID,Schoenle Raphael²^ORCID

Affiliation:

1. University of Cambridge

2. Federal Reserve Bank of Cleveland

3. Brandeis University

4. Boston University

5. Board of Governors of the Federal Reserve System

Abstract

The relationship between the Phillips curve and inflation has become weaker over time, producing questions regarding how policymakers might connect inflation to the rest of the economy. Presentations given during the “Inflation: Drivers and Dynamics” session of the Central Bank Research Association’s annual meeting focused on the intersection of monetary policy and inflation dynamics to examine the ways in which policy might impact inflation and related expectations and processes. This Economic Commentary summarizes the papers presented during this session.

Publisher

Federal Reserve Bank of Cleveland

Reference5 articles.

1. Ascari, Guido, and Timo Haber. 2019. “Sticky Prices and the Transmission Mechanism of Monetary Policy: A Minimal Test of New Keynesian Models.” Department of Economics University of Oxford Economics Series Working Papers No. 869. https://www.economics.ox.ac.uk/department-of-economics-discussion-paper-series/sticky-prices-and-the-transmission-mechanism-of-monetary-policy-a-minimal-test-of-new-keynesian-models.

2. Kiley, Michael T., and John M. Roberts, 2017. “Monetary Policy in a Low Interest Rate World.” Brookings Papers on Economic Activity, 2017(1): 317–396. https://doi.org/10.1353/eca.2017.0004.

3. L’Huillier, Jean-Paul, and Raphael Schoenle. 2020. “Raising the Inflation Target: How Much Extra Room Does It Really Give?” Federal Reserve Bank of Cleveland, Working Paper No. 20-16. https://doi.org/10.26509/frbc-wp-202016.

4. Pfajfar, Damjan, and John Roberts. 2018. “The Role of Expectations in Changed Inflation Dynamics.” Board of Governors of the Federal Reserve System, Finance and Economics Discussion Series No. 062. https://doi.org/10.17016/feds.2018.062.

5. Ortiz, Julio. 2019. “Time-Varying Volatility as a Source of Overreactions.” Unpublished manuscript. Boston University.