-term inflation is derived from the dynamic stochastic general equilibrium (DSGE) model with state-dependent pricing originally … on Calvo-type price-setting as a special case. It describes current inflation as a function of lagged inflation, expected … future inflation, and current and expected future real marginal costs. The paper demonstrates that inflation dynamics …

of vacancies in the data. A further interesting finding is that inflation via the Phillips curve is not only driven by an …

once. In this way the relationships among labor market variables, i.e. wages, prices and unemployment, may well vary across … time scales. In this paper, instead of analyzing the average relationships among wages, price and unemployment, we use … wavelets to examine the relationships among wages, prices and unemployment at each time scale separately. The results from …

majority of economists seems to agree that an inverse relationship between inflation and unemployment holds as long as changes … recurrent unemployment and inflation. …

. The representative agent's forecast rule is optimal, conditional on a perceived law of motion for inflation and observed … moments of the inflation time series. The perceived law of motion allows for both temporary and permanent shocks, the latter … intended to capture the possibility of evolving shifts in the central bank's inflation target. In this case, the agent …

We examine the long-run output-inflation trade-off under the assumption that firms face menu costs and set prices in a … state dependent fashion. We argue that these characteristics capture the idea that the long-run output-inflation trade …-off is driven by (predictable) trend inflation, and the degree of price rigidity should be chosen optimally by firms in the …