are often used for monetary policy. Until now, the use of trimmed-mean price statistics in forecasting inflation has often … the inflation forecasting improvements are perhaps not surprising given the current literature on core inflation …

We estimate an empirical model of inflation that exploits a Phillips curve relationship between a measure of … unemployment and a subaggregate measure of inflation (services). We generate an aggregate inflation forecast from forecasts of the … statistics for models that exploit relationships between services inflation and the unemployment rate. In addition, models of …

-run trade-offs between output and inflation: lower trend inflation flattens the Phillips curve and decreases steady-state output … by increasing markups. We show that the aggregator reduces both the steady-state welfare cost of higher trend inflation … and the inflation-related weight in a model-based welfare function for higher trend inflation. Consequently, optimal trend …

We propose a novel theory of intrinsic inflation persistence by introducing trend inflation and variable elasticity of … demand in a model with staggered price and wage setting. Under nonzero trend inflation, the variable elasticity generates … intrinsic persistence in inflation through a measure of price dispersion stemming from staggered price setting. It also …

might be useful in the forecasting of aggregate inflation. Trimmed-mean inflation estimators have been shown to be useful … devices for forecasting headline PCE inflation. But does this stem from their ability to signal the underlying trend, or does … question by augmenting a “hard to beat” benchmark inflation forecasting model of headline PCE price inflation with robust …

We develop a flexible modeling framework to produce density nowcasts for US inflation at a trading-day frequency. Our …

The dollar's depreciation during the early floating rate period, 1973-1981, was a symptom of the Great Inflation. In …

Reserve's ability to credibly commit to low and stable inflation. This chapter also provides a theoretical discussion of …