This paper investigates the predictive power of the shadow rate for the inflation rate in countries with a zero lower … parameters we compare the out-of-sample forecasting performance of an inflation model including a shadow rate interaction term … inflation rate are evaluated. The models including the shadow rate interaction term are found to outperform the benchmark ones …

same inflation or interest rate expectations can differently assess whether the level of the corresponding variable is … and affects durable spending and saving decisions. We also show that the variation in inflation preferences can be …

This paper examines the distributional implications of inflation on top income shares in 12 advanced economies using … data over the period 1920-2016. We use Local Projections to analyze how top income shares respond to an inflation shock …, and panel regressions in which all variables are defined as five-year averages to examine the impact of inflation on the …

This study evaluates the role market competition plays in determining inflation based on sector-level data from OECD … countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity … of market competition. This study shows that inflation decreases with greater market competitiveness even after …