The Paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output … growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human … the income velocity of money that can break the otherwise stable relation between money, inflation, and output growth …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …

persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

looking pricing account for the observed persistence in aggregate inflation. Second, price-setting responds to movements in … marginal costs, which should therefore be the driving force to observed inflation dynamics. This is not always the case in …) inflation, and underestimating the importance of (aggregate) marginal costs for (aggregate) inflation. We provide intuition for …

, inflation and exchange rates. Our innovative technique measures trade openness encompassing both observable trade policy … and surcharges, are included in a model of wholesale price inflation in South Africa. The evidence suggests that increased … openness has significantly reduced the mean inflation rate and has reduced the exchange rate pass-through into wholesale prices. …

Inflation is a far from homogeneous phenomenon, a fact often neglected in modelling consumer price inflation. This … study, the first of its kind for an emerging market country, investigates gains to inflation forecast accuracy by …

Models for the twelve-month-ahead US rate of inflation, measured by the chain weighted consumer expenditure deflator … prices; introducing non-linearities to proxy state dependence in the inflation process; and replacing the information …

Inflation targeting central banks will be hampered without good models to assist them to be forward-looking. Many … current inflation models fail to forecast turning points adequately, because they miss key underlying long-run influences. The … world is on the cusp of a dramatic turning point in inflation. If inflation falls rapidly, such models can underestimate the …

explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the … a significant reduction in inflation persistence following the adoption of inflation targeting. The speed by which … persistence falls varies across countries. Interestingly, the economies not adopting inflation targeting do not show a decline in …