properties of the estimator are explored in simulations. We illustrate with an application to US inflation and output data. …

Declining inflation persistence has been documented in numerous studies. When such series are analyzed in a regression …

inflation should move one for one in the long run, and, hence, inflation should be predictable by money growth. The model fits … postwar U.S. data well, and beats common univariate benchmark models in forecasting inflation. Moreover, this evidence is … quite robust, and predictability is found also in the Great moderation period. The detected predictability of inflation by …

. It is suitable for describing characteristic features in inflation series as well as for medium-term forecasting. With … this model we decompose the inflation process into a slowly moving nonstationary component and dynamic short …-run fluctuations around it. We fit the model to the monthly euro area, UK and US inflation series. An important feature of our model is …

provide important insight into inflation dynamics due to an interaction between high and asymmetric exchange rate pass …

incidence and severity of the crisis. In particular, we find that the pre-crisis rate of inflation captures factors which are …. Countries with exchange rate pegs outside EMU were hit particularly hard, while inflation targeting seemed to mitigate the …