This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with …. While average output and inflation result the same as under rational expectations, higher moments differ substantially …: output and inflation show persistence, inflation responds sluggishly to nominal disturbances, and the dynamic correlations of …

modest short-run output gains, greater excess demand pressures, noticeably higher CPI inflation rates over the whole of the …

good approximation of U.S. inflation dynamics. By contrast, if the same estimates are constrained to yield a unique stable …

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker’s disinflation (1979-1982). My … the behavior of inflation expectations - agents expected shocks to persist in the pre-Volcker period, but not in the post …

, 2001. According to this new program, the annual WPI inflation is targeted as 57.6 percent for 2001. In this paper, the … increases can economically be justified by sharp rises in nominal exchange rates and moderate increases in world crude … remarkable deviation from the targeted inflation rate as end of December 2001. ***** TURKCE OZET: 'Turkiye'de Akaryakit Fiyat …