contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity … prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and … demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation …

Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the … therefore examines the empirical properties of inflation expectations data constructed on the basis of both qualitative and … provides some insights into the nature of the interaction between monetary policy and inflation expectations. …

good inflation. In addition, the Ramsey optimal monetary policy can be approximated reasonably well with a Taylor …-type interest rate rule with weights on both inflation rates and output …

This paper evaluates inflation forecasts made by Norges Bank which is recognized as a successful forecast targeting … central bank. It is reasonable to expect that Norges Bank produces inflation forecasts that are on average better than other … margin. An explanation in terms of too high speed of adjustment to the inflation target is supported by the evidence. Norges …

Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …

In this paper we introduce and test the hypothesis that the relation between inflation and unemployment has been in … 1975 and 1980 after the first (or the second) oil price shock in autumn 1973. During the disin°ation period, inflation and … their favour and the Central Bank fighting against inflation. Since the wage and price setters did not fully believe in an …

policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We …