-Wouters model and its forecasts of real GDP growth and inflation are compared with those from two extensions. The first adds … extensions improve the density forecasts of real GDP and inflation and their joint forecasts up to an eight-quarter horizon. We … find that adding financial frictions leads to a deterioration in the forecasts, with the exception of longer-term inflation …

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 …

ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in … ; Euro Area External Finance Premium ; Financial Accelerator ; Bayesian Estimation ; Inflation …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

striking negative correlation between the evolution of the long-run coefficient on inflation in the monetary rule and the … evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

variances for all series, and decreases in the variances of inflation and the output gap, ithout any need of sunspot shocks …

indeed reacted to the global components. -- Inflation ; globalization ; Phillips curves ; factor models ; monetary policy …We examine the global dimension of inflation i n 24 OECD countries between 1980 and 2007 in a traditional Phillips … global forces to affect inflation through (the common part of) domestic demand and supply conditions. Our most important …