activity and inflation as latent variables. We incorporate these latent variables into a factor-augmented vector autoregression … activity and inflation, consistent with previous studies. In contrast to much of the literature, however, we find that central …-bank-determined changes in Chinese interest rates also have substantial impacts on economic activity and inflation, while other measures of …

external instruments produce responses in output and inflation consistent with both textbook theory and conventional monetary …

monopolistically competitive pricing, higher-order expectations are crucial for aggregate inflation dynamics, as argued by Phelps (1983 … disturbance, and a delayed effect on inflation, as found in VAR studies …

draw some implications for timing between monetary expansion and inflation, inter-country comparisons of inflation rates … lead inflation in the sense that money Granger-causes prices without feedback, contradicting an implication of the monetary … of inflation during the fixed exchange rate period, providing no evidence for a generalized "law of one price." (3) Some …

This paper examines the behavior of quarterly inflation in India since 1994, both headline inflation and core inflation … headline inflation feed into expected inflation and future core inflation. Several aspects of India’s inflation process are … as measured by the weighted median of price changes across industries. We explain core inflation with a Phillips curve in …

The paper studies the solvency of the Indian public sector and the eventual monetization and inflation implied by …

inflation in recent years just do not hold up. Globalization does, however, have the potential to be stabilizing for individual … the sensitivity of inflation to domestic output gaps and thus to domestic monetary policy? No. (2) Are foreign output gaps … playing a more prominent role in the domestic inflation process, so that domestic monetary policy has more difficulty …