unemployment-inflation tradeoff since 1995 …

This paper examines the behavior of quarterly inflation in India since 1994, both headline inflation and core inflation … as measured by the weighted median of price changes across industries. We explain core inflation with a Phillips curve in … which the inflation rate depends on a slow-moving average of past inflation and on the deviation of output from trend …

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve … based on the assumptions that inflation expectations are fully anchored at the Federal Reserve's target, and that labor …-market slack is captured by the level of short-term unemployment. This equation explains inflation behavior since 2000, including …

We develop and estimate a structural model of inflation that allows for a fraction of firms that use a backward looking … measures of arginal cost as the relevant determinant of inflation, as the theory suggests, instead of an ad-hoc output gap …. Real marginal costs are a significant and quantitatively important determinant of inflation. Backward looking price setting …

for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first … setting by firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence … of labor market frictions and real wage rigidities. We show the nature of the tradeoff between inflation and unemployment …

for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i …

perspective on the linkages among monetary policy, inflation, and the business cycle. It is argued that the adoption of an …

as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyze … the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two … is substantial, but in line with survey evidence and U.S. estimates, (c) inflation dynamics in the Euro area appear to …

Sticky-price models with rational expectations fail to capture the inertia in U.S. inflation. Models with backward …-looking expectations capture current inflation behavior, but are unlikely to fit other monetary regimes. This paper seeks to overcome these … problems with a near-rational model of expectations. In the model, agents make univariate forecasts of inflation: they use …

for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first … setting by firms. We derive the relation between inflation and unemployment and discuss how it is influenced by the presence … of labor market frictions and real wage rigidities. We show the nature of the tradeoff between inflation and unemployment …