the Phillips curve over time. We consider different specifications and different measures for inflation. Furthermore, we … include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space ….S. headline inflation has remained empirically relevant over the years. …

applied to quarterly and monthly US inflation in an empirical study. We find that the persistence of quarterly inflation has … the observed time series. We develop a simulated maximum likelihood estimation method based on importance sampling and … and density forecasts for monthly US inflation. …

model specifications for the parameters are therefore not required. Parameter estimation is carried out in the frequency …

Econometric estimation using simulation techniques, such as the efficient method of moments, may betime consuming. The …