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 …

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 …

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 …

central banks to control inflation within their borders, at least in the absence of coordination of policy with other central … the ability of monetary policy to control inflation: by making liquidity premia a function of 'global liquidity' rather … to control the dynamics of inflation. …

at containing inflation and the deviation of output from potential within pre-specified bounds. We develop formal tools … this loss function under weak assumptions may be estimated from realizations for inflation and output gap data even in the … parameters with respect to the inflation and output objectives during the Greenspan period. We formally test for and reject the …

indicator and forecasting properties of the real interest rate gap for inflation, both in the model and in the data. Our results … suggest that the real interest rate gap has value as an inflation indicator, supporting the ‘neo-Wicksellian framework …

inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

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

We investigate both the rational explosive inflation paths studied by McCallum (2001), and the classification of fiscal … domains for which the fiscal theory solution, in which fiscal variables affect the price level, can be a stable outcome under …

This paper investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for … countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation …