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 …

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 …

information about inflation expectations – that survey measures of expectations are inconsistent with rational expectations, but … less so for financial markets than households; that actual and expected inflation interact with each other; and that the … foreign exchange market anticipates tighter monetary policy when inflation is higher than expected. The second half of the …