It is an open question whether and how indexed wage contracts reduce welfare or raise average inflation. This paper … analyzes the impact of indexed wage contracts on inflation and social welfare in a Barro Gordon model with discretionary … monetary policy by endogenizing social costs of indexation. Main results are: Wage indexation reduces the inflation bias but …

We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a … generally has a significant positive effect on inflation, but that this effect decreases as integration in the global economy …

We study the effects of professionals’ survey-based inflation expectations on inflation for a large number of 36 OECD … economies, using dynamic cross-country panel estimation of New-Keynesian Phillips curves. We find that inflation expectations … have a significantly positive effect on inflation. We also find that the effect of inflation expectations on inflation is …

We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework …1-2017Q4 period. We find broadly that both global and domestic output gaps are significant drivers of inflation both in … output gaps on inflation. …

, prompting them to raise markups and prices in anticipation of potentially higher future inflation. These findings establish a … connection between heightened uncertainty, higher core inflation, and increased profits. …

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …

conclusions that arise from the model. In the new model, the level and the variability of inflation is higher than in the Calvo … model with no selection effect. Attempting to lower inflation's variability results in a significant increase output …'s variability, without changing inflation's variability much. …

the traditional results on the impact of inflation. In particular, recent findings suggest that quantity-adjustment costs … may remove the linkage between output and inflation. We show that this is not the case when inflation is anticipated. On …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment. …