qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …

-form) properties of the economy. Based on estimated models for the Great Inflation and the most recent period, I show that, as a … played by monetary policy in exacerbating the Great Depression, causing the Great Inflation, or fostering the Great …

other sources of sluggishness to explain the observed high inflation persistence. Second, we confront empirically our fair … inflation outcomes. JEL Classification: E4, E5 …

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are - i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …

This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid … mean break, both aggregate and sectoral inflation persistence are stable and low, with the unit root lying far in the tail … price changes (at the firm level) appears positively related with inflation persistence (at the aggregate level). JEL …

This paper studies optimal discretionary policy with parameter uncertainty about inflation inertia. Optimal policy … in the presence of uncertainty about inflation inertia, depending on the form of the central bank’s objective function …. Moreover, in the cases where optimal policy is not certainty equivalent, we find that inflation returns slightly more gradually …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …