We investigate the importance of trend inflation and the real-activity gap for explaining observed inflation variation … in G7 countries since 1960. Our results are based on a bivariate unobserved-components model of inflation and … unemployment in which inflation is decomposed into a stochastic trend and transitory component. As in recent implementations of the …

After three decades of being relatively constant, the homeownership rate increased over the period 1994 to 2005 to … aggregate homeownership rate ranges from 56 and 70 percent. …

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter …