that long-term inflation expectations have been well anchored in the three economies, irrespective of whether forward …

output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time …We jointly estimate the natural rate of interest, the natural rate of unemployment, expected inflation, and potential …-variation in (i) the data-generation process for inflation, which we capture via a time-varying parameters specification for the …

, and in the Eurozone, Canada, and Australia over the post-WWII period. Overall, our evidence does not provide much support …

Over the last two centuries, the cross-spectral coherence between either narrow or broad money growth and inflation at … other countries, thus implying that the fraction of inflation's long-run variation explained by long-run money growth has … cause, ceteris paribus, comparatively much larger decreases in the gain between money growth and inflation at ù=0 than in …

We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two … regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and … Canada for data from the 1960s up to the present. Our estimates suggest that a smoothed measure of broad money growth …

We use a Bayesian time-varying parameters structural VAR with stochastic volatility for GDP deflator inflation, real … Inflation was due, to a dominant extent, to large demand non-policy shocks, and to a lesser extent - especially in 1973 and 1979 … difference in terms of inflation and output growth outcomes; and (3) mechanically "bringing the Monetary Policy Committee back in …

-mean autoregressive model can be used to describe characteristic features in inflation series. This implies that we decompose the … inflation process into a slowly moving nonstationary component and dynamic short-run fluctuations around it. An important … quantity to be forecast. This makes it possible to form a single model-based inflation forecast that also incorporates the …