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How disagreement in inflation expectations can influence the transmission of monetary policy Research Brief | 15th edition – September 2017
Does a less expansionary monetary policy, for example, an increase in interest rates, lead to lower inflation and dampened inflation expectations? Many empirical and theoretical studies suggest that it does. A new study, however, shows that, if inflation expectations diverge widely, a less expansionary monetary policy can lead to increased inflation and higher inflation expectations.
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Disagreement and monetary policy Discussion paper 29/2017: Elisabeth Falck, Mathias Hoffmann, Patrick Hürtgen
2 MB, PDF
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Balance of payments statistics - September 2017 Statistical Supplement 3 to the Monthly Report
1 MB, PDF
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Zahlungsbilanzstatistik - September 2017 Statistisches Beiheft 3 zum Monatsbericht
1013 KB, PDF
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