contribution to fluctuations in, the real exchange rate, output growth and inflation in four major economies over the past four … focused on inflation and output and the time-varying impact of monetary policy on these variables. In addition we generalise … as follows. The transmission of demand, supply and nominal shocks to the real exchange rate, output and inflation has …

We develop a model that can explain the evolution of trend inflation in the United States in the three decades before … inflation arises endogenously and has these determinants: the strength with which the central bank responds to inflation, the … degree of uncertainty about monetary policy perceived by the private sector, and, if it exists, the inflation target. Given …

Market-based measures of inflation expectations can be derived either from the difference between yields on nominal and … inflation-linked government bonds or from inflation swap rates. These measures are important indicators of the outlook for … inflation and are monitored regularly by the United Kingdom's Monetary Policy Committee (MPC), alongside other measures of …

This paper uses a ‘trendy' approach to understand UK inflation dynamics. It focuses on the time series to isolate a low …-frequency and slow-moving component of inflation (the trend) from deviations around this trend. We find that this slow-moving trend … explains a substantial share of UK inflation dynamics. International prices are significantly correlated with the short …

recent movements of energy and non-energy output and inflation into the proportions caused by each of the shocks …

This paper aims to contribute to our understanding of inflation dynamics in the United Kingdom by estimating two …

the Covid pandemic. Inflation responded asymmetrically to movements in demand. This helps to explain why inflation did not … most of the rise during the rebound. Inflation rates across firms have become more dispersed and skewed since the start of … the pandemic. We find that average price inflation is positively correlated with the dispersion and skewness of the …

price model a 'weak' central bank response to inflation generates sunspot fluctuations, the consequences of pooling … of inflation persistence had not been investigated. Using Monte Carlo simulations from a purely forward-looking model …, this paper shows that indeterminacy can introduce a sizable persistence in the process of inflation. On the reduced form …