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 …

This paper estimates a range of single-equation models of inflation for Australia. We find that traditional models …-Keynesian Phillips curve (NKPC) in explaining trimmed mean inflation, both in terms of in-sample fit and significance of coefficients … including a direct measure of inflation expectations, but we still find that the unemployment rate or growth in marginal costs …

This paper examines the effect of inflation on productivity growth in Australia. Broad historical correlations suggest … a negative relationship between inflation and aggregate productivity growth. The low-frequency nature of the … significant results with industry-level inflation explaining industry productivity. We also find that the relationship varies by …

Ball and Sheridan (forthcoming) show that OECD countries with a history of high inflation before the 1990s have … subsequently experienced a larger degree of disinflation than countries with a history of low inflation. They label this process … ‘regression to the mean’, and argue that it explains why those OECD countries which adopted inflation targeting experienced larger …

. 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 …

include that a positive output gap would be less inflationary, but the cost of reducing inflation, once established, would …

important drivers of the Australian business cycle. We also find that the initial impact on inflation of an increase in demand … positive effect on inflation that dominates at longer horizons. …