relationship, and 2) using inflation as an additional explanatory variable. By implementing a well structured estimation strategy …, we found that after taking the level shift into account, a cointegrating equation, including inflation, exists and is …

This paper constructs a quarterly series of GDP deflator inflation for China from 1979 to 2009 and tests for a … structural break with an unknown change point in the dynamic inflation process. Empirical results suggest a significant … structural change in inflation persistence. Employing a counterfactual simulation method, we show that the structural change is …

, based on a multivariate dynamic model featuring distinct interactions among inflation, money, and real output in China. The …The New Keynesian Phillips curve implies that the output gap, the deviation of the actual output from its natural level … due to nominal rigidities, drives the dynamics of inflation relative to expected inflation and lagged inflation. This …

nonlinear and exhibits an asymmetric pattern: oil price changes have a significant effect on inflation and output when the …

This paper examines the nonlinearity of China's inflation rate and models its nonlinear dynamics using the multiple … autoregressive model can be used to model the nonlinear dynamics of China's inflation rate, and the impulse response analysis shows …

The purpose of the paper is to revisit the inflation–output gap relationship using a new approach known as the wavelet … wavelet methodologies for the study of the inflation–output gap nexus in the case of France, we determine that the output gap … is able to predict the inflation dynamics in the short- and medium-runs, and these results have important implications to …

aggregated and disaggregated output series as well as the asymmetric nature of business cycle phases. To demonstrate the …

This paper provides new evidence on inflation persistence before and after the European Monetary Union (EMU). Taking … into account fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro area … run inflation persistence has converged. In line with theoretical predictions, we find that the persistence of inflation …