This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to … preferred to IT for delivering macroeconomic stability, as it delivers a reduction in inflation and nominal interest rate …

inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the … and inflation in the New Keynesian Phillips curve. From a methodological perspective, these results derive from our … Curves hold promise empirically and provide interesting research directions. -- Inflation and prices ; Labour markets …

Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the … and inflation in the New Keynesian Phillips curve. From a methodological perspective, these results derive from our …

The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation …) framework as the response of domestic inflation to an impulse in import price inflation. This approach allows them to examine …

explain the poor quality of recent inflation forecasts based on the conventional Phillips curve. Among the various … explanations we consider for the persistent underestimation of inflation, the one that emerges most clearly from our findings is … that the process by which inflation expectations are formed has changed in recent years. Shifts in expectations appear to …

relative prices, ri, as described on page 8, is not invariant to the rate of inflation and this introduces a bias in favour of … short-run movements in inflation should be positively related to the skewness and the variance of the distribution of … predictions that arise from the menu-cost models. Indeed, we find that the positive relationship between inflation and the …

of inflation equations based on generalized structural Calvo-type models. The models allow for different forms of …. The results show that there is some statistical merit to using indexation-based Calvo-type models for inflation. However …