framework, indicating demand pressure that generates inflation. The output gap is also an important variable in itself, as a … value added in predicting inflation. The multivariate measures of the output gap have by far the best predictive power. This … predicting inflation. As uncertainties are particularly pronounced at the end of the calculation periods, assessment of pressures …

This paper explores if economic uncertainty alters the macroeconomic influence of monetary policy. We consider several … measures of U.S. economic uncertainty, and estimate their interaction effects with monetary policy shocks as identified through … uncertainty is high, consistently with "real-options" effects suggested by models with non-convex adjustment costs. Investment …

to mitigate household credit may prove costly in terms of GDP and inflation variation. …

The time-varying natural rate of interest and output and the implied mediumterm inflation target for the US economy are … driver for inflation (e.g., Galì et al., 2001, 2003). The turning points of the business cycle are nevertheless broadly … consistent with those of CBO/NBER. We find considerable variation in the natural rate of interest while the inflation target has …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …