striking negative correlation between the evolution of the long-run coefficient on inflation in the monetary rule and the … evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that …, we find that allowing for a distribution of contract lengths can yield a more plausible explanation of inflation …

We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007 in a traditional Phillips curve … to affect inflation through (the common part of) domestic demand and supply conditions. Our most important result is that … the common component of changes in unit labor costs has a notable impact of inflation. We also find evidence that …

We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007 in a traditional Phillips curve … to affect inflation through (the common part of) domestic demand and supply conditions. Our most important result is that … the common component of changes in unit labor costs has a notable impact of inflation. We also find evidence that …

A number of studies document the prominent role of global factors in domestic inflation developments (e.g. Borio and … Filardo, 2007; Ciccarelli and Mojon, 2010). In this paper we investigate global dimensions of advanced economy inflation. We … inflation expectations and augment Phillips curves with global factors including global economic slack, global inflation and …

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … power for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …

(notably residential property) and inflation; and it looks at the role of public debt for consumer price developments. On the … basis of a VAR analysis, the study finds that i) global money demand shocks affect global inflation and also global … commodity prices, which in turn impact on inflation; global asset/property price dynamics appear to respond to financing cost …