This paper presents some new estimates for the relationship between inflation and unemployment in Brazil based on a new … important factor in explaining the high persistence (inertia) of Brazilian inflation; iii) inflation does have an autonomous … inertial component, without linkage to shocks in individual markets; iv) a non-linear relationship between inflation and …

This paper shows the way how persistent world inflation shocks hitting a small open economy can re-weight the … inflation. We derive a state-dependent Phillips curve based on translog preferences that make the elasticity of substitution of … disinflation on domestic inflation, as experienced in small open economies such as New Zealand, Chile and Peru …

This paper proposes a new empirical representation of US inflation expectations in a Stace-Space Markov …

New Keynesian Phillips curve (NKPC). This model posits the dynamics of inflation as being forward-looking and related to …

equilibrium relationship between inflation and unemployment. Institutions interact with shocks which gives rise to substantially …

little response in the inflation rate. Such instances, while casting doubt on the tradeoff implied by the linear Phillips … curve, are also associated with large inflation forecasting errors. In principle, these movements are consistent with a … relationship against a simple linear specification, and compare dynamic and static out of sample forecasts of inflation across …

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and … relative price asymmetry is positive, idiosyncratic shocks lead to a substantial build-up in inflation only after two to five …

sub indexes’ inflation dynamics indicate that the exchange rate pass-through in the perfectly competitive sector is … sector. Also, that inflation inertia is lower in the former than in the latter; adding up in more volatility of the perfectly … competitive inflation rate. For policy makers an interesting feature of the perfectly competitive price index is that the evidence …

controversies surrounding the exchange rate forecastability and the absence of money in models of inflation …