Over the past two decades, U.S. core PCE goods and services inflation have evolved differently. Against the backdrop of … global concerns of low inflation, we use this trend as motivation to develop a bottom-up model of U.S. inflation. We find … that domestic forces play a larger role relative to foreign factors in influencing core services inflation, while foreign …

wage growth and inflation in Europe and factors that influence the strength of the passthrough from labor costs to prices …. Historically, wage growth has led to higher inflation, but the impact has weakened since 2009. Empirical analysis suggests that the … passthrough from wage growth to inflation is significantly lower in periods of subdued inflation and inflation expectations …

raising concerns of youth unemployment. This paper explores the effects of inflation on private employment growth in SSA using …Covid-19 and war-induced commodity price fluctuations, and broadening price pressures have led to a surge in inflation … inflation and job creation in SSA, with job creation being negatively correlated with inflation rate when the latter is above 14 …

-run Phillips curve between inflation and unemployment and a trade-off between price distortions and output hysteresis that change …Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses … the welfare-maximizing inflation level. For a plausible set of parameters, the optimal inflation target is in excess of …

inflation. Through a novel consumption deflator decomposition, we show that import prices account for 40 percent of the average … convergence of inflation to target over the next two years. Monetary policy will thus need to remain restrictive to anchor …

unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … unemployment rates to pre-shock levels …

times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …

The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role … for monetary policy in influencing inflation in the short run. SSA's rapid growth, its integration with the global economy …, changes in the policy frameworks, among others, in the last decade suggest that the drivers of inflation may have changed. We …

This paper estimates core inflation in Norway, identified as that component of inflation that has no long-run effect on … GDP. The model distinguishes explicitly between domestic and imported core inflation. The results show that (domestic …) core inflation is the main component of CPI inflation. CPI inflation, however, misrepresents core inflation in some periods …

This paper incorporates market-based inflation expectations to the growing literature on trendinflation estimation, and …