CESEE EU countries align more closely with the euro area than non-EU countries. The unemployment-inflation relationship …

variables has declined systematically over time. In contrast, the response of inflation and the short-term interest rate to this … consistent with an increase in the monetary authorities' anti-inflation stance and a 'flattening' of the Phillips curve. …

Japan are included; this provides benchmarks upon which to compare the characteristics of the developing country cycles and …

of this analysis is that the model overestimates output persistence in high inflation countries and underestimates output … persistence in low inflation countries. This has important implications not only for this model, but also for any economist … persistence ; Vertical production chain ; Staggered price contracts ; Economic development ; Inflation …

" macroeconomic events. We examine this conjecture by studying Bayesian predictive distributions for output growth and inflation in …