In central theories of monetary non-neutrality the Ramsey optimal inflation rate varies between the negative of the … generate an optimal inflation rate that is significantly positive. Specifically, for a standard U.S. calibration, we find a … Ramsey optimal inflation rate of 1.11 percent per year. …

An approach to decomposing and interpreting the inflation process is proposed. It suggests that the low U.S. inflation … rate in recent years reflects a structural development, but that the low levels of unemployment may be a mainly cyclical …

variable for Swedish inflation than the output gap. However, standard errors in the estimations are large and it is in fact … difficult to pin down a statistically significant relationship between either real marginal cost or the output gap and inflation. …

important for monetary policy analysis, i.e. inflation, GDP, productivity, employment, labour force, unemployment and financial … usually limited to the first year. Furthermore, we find that the inflation forecasts exhibit several appealing features, such … misjudgements for productivity growth have had effects on forecasts for both inflation and GDP, but the results suggest that the …