This paper models Chinese inflation using an output gap Phillips curve. Inflation modelling for the world’s sixth … curve for China and show that the output gap, the exchange rate, and inflation expectations play important roles in … explaining inflation. We adjust for structural change in the economy where possible and estimate regressions for rolling sample …

from disturbances to the money market, the variance of output is shown to be an increasing function of the trend inflation … inflation rate. When both disturbances are significant, there exists, in general, a critical non-zero trend inflation rate that …

and its implications for US output, hours and inflation. Second we evaluate the extent to which those responses can be … the Fed’s policy tended to over stabilize output at the cost of generating excessive inflation volatility. Our evidence …

The New-Keynesian Taylor-Rule model of inflation determination with no role for money is incomplete. As Cochrane (2007a … invoked if inflation misbehaved. Thus we answer the criticisms levelled at the Taylor Rule that it has no credible mechanism …

nominal interest and inflation rates. For close to a decade the principal focus of monetary policy has been on inflation … consideration, but at other times inflation control has been the major objective. We argue that this concentration on inflation has …

This paper considers the existence of a path of GDP corresponding to steady inflation in the prices of domestic goods …. We estimate the steady inflation rate of growth, denoted the SIRG, at a little over 4 per cent per annum in the post …-float period. Changes in inflation are modelled as a nonlinear combination of growth and changes in import price inflation. Because …