. These include the distinction between the short and long-run trade-offs between inflation and unemployment, and the changing … level of the non-accelerating inflation rate of unemployment (NAIRU), particularly in the 1970s. We estimate Phillips curves … discussion of the changing role of the Phillips curve in the intellectual framework used to analyse inflation within the Reserve …

favour of the SIPC over the low-inflation period. Parameter estimates are sensitive to inflation measures and sample periods … the fact that inflation has become difficult to model since the introduction of inflation targeting. Over sample periods …

prices are indexed to past inflation. These problems arise because of a type of misspecification and a lack of suitable …

volatility of output growth and inflation, although the magnitudes of these effects depend on the policy framework and the … inflation helps to moderate the volatility of output and inflation in the face of a volatile terms of trade. The same is true of … that focuses on low inflation is associated with lower volatility of imports. …

This paper examines the statistical properties of inflation in a sample of inflation-targeting and non-inflation …-targeting countries. First, it analyses the time-varying volatility of a measure of the persistent component of inflation. Based on this … measure, inflation-targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) have experienced a …