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

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 …

produce large reductions in the out-of-sample prediction mean squared error and provides a useful alternative to forecasting … greatly redcues the prediction mean squared error of forecasts of U.S. CPI inflation at horizons of one month and one year …

In this paper, we examine whether industry-level forecasts of CPI and PPI inflation can be improved using the …, which should be manifested, possibly with a lag, in both producer and consumer prices. We build a forecasting model based on … a two or three equation system involving CPI and PPI inflation where the effects of the exchange rate and import prices …

Extending recent theoretical contributions on sources of inflation inertia, we argue that monetary uncertainty accounts …

Extending recent theoretical contributions on sources of inflation inertia, we argue that monetary uncertainty accounts …

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 …