, prompting them to raise markups and prices in anticipation of potentially higher future inflation. These findings establish a … connection between heightened uncertainty, higher core inflation, and increased profits. …

prices in each period co-moves with current inflation. Moreover, firms’ choices are consistent with a hybrid framework that … aggregate inflation. Third, firms’ price changes are also connected to their observable characteristics: size class, sector of … understand their pricing decisions and the dynamics of inflation …

Analysis Network (PRISMA) for inflation dynamics and monetary policy, relying on calibrated models and direct empirical …. Empirical estimates of the Phillips curve during the low-inflation period confirm previous findings of a relatively flat but … setting, changes in trend inflation above 5-6% would have significant effects on the euro area Phillips curve. Similarly …

datasets collected in a period with relatively low and stable inflation. First, price changes are infrequent in the core … change is smaller, but nevertheless larger than inflation. Third, price setting is mildly state-dependent: the probability of … in aggregate inflation, which instead mainly reflected shifts in the average size of price changes. Consistent with …