This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …

Various inflation forecasting models are compared using a simulated out-of-sample forecasting framework. We focus on … the question of whether monetary aggregates are useful for forecasting inflation, but unlike previous work we examine a …

This study analyses India's inflation using the Phillips curve theory. To estimate an open-economy Phillips curve, we … need three variables: (1) inflation (2) the output gap and (3) the real effective exchange rate. In India, the incorrect … composite consumer price index (CCPI) was the best measure of inflation, and should be used to construct the real effective …

inflation. Taking as given the paths of nominal labor compensation and labor productivity to approximate the evolution of …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

This paper examines inflation dynamics in the Unites States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960- 2007 are used to predict inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …

Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods …. Correlations of inflation with the growth of money also are higher when high-inflation as well as low-inflation countries are … included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together …

inflation and unemployment. It focuses on the questions of what econometric tools modellers would choose to model the tradeoff …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …