We evaluate the performance of inflation forecasts based on the open-economy Phillips curve by exploiting the spatial … pattern of international propagation of inflation. We model these spatial linkages using global inflation and either domestic … slack or oil price fluctuations, motivated by a novel interpretation of the forecasting implications of the workhorse open …

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 … models for forecasting, and helps to explain previous findings of the failure of VEC models to forecast better than VAR …

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. …

expected change in earnings, our study investigates how firms manage their earnings forecast strategy once they have decided to … to adopt a multiple earnings forecast (a portfolio) approach in the statutory sanctions period, particularly for the … conservative in their earnings forecasting compared to those expecting worse earnings performance. Although this asymmetrical …

-economy Phillips curves under standard measures of global slack do not help forecast domestic inflation, possibly indicating …-2015:Q1 period and appear to be reliable proxies for global slack in forecasting inflation. …We investigate empirically the inflation dynamics in New Zealand, a small open economy and a pioneer in inflation …

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 … substantial support for the forward-looking model of price setting. The results are robust to the use of alternative forecasting …

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 …