This article proposes a multivariate model of inflation with conditionally heteroskedastic common and country …-2009. It is found that various model specifications considered fit well the first and second order dynamics of inflation in the … G7. The estimated volatility of the common inflation component captures the international effects of the ‘Great …

provide the most precise forecasts for a set of eleven core macroeconomic variables, including GDP growth and CPI inflation …

We examine both the degree and the structural stability of inflation persistence at different quantiles of the … conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation … rate. As economic theory provides reasons for inflation persistence to differ across conditional quantiles, this is a …

" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this "persistency … equilibrium setting (in which real variables not only affect inflation, but are also influenced by it), standard wage …

Dynamic econometric models are carefully built to analyse counterfactually the globalisation effect on inflation for … impact as far as inflation persistence is concerned while the impact on inflation variability can be positive as well as … negative. Overall, globalisation is found to have contributed positively to lowering rather than stabilising inflation during …

price bubbles and to attenuate their devastating effects on the domestic and world economy. …