We test the menu cost model of Ball and Mankiw (1994, 1995) on data from the inflation and deflation periods in Japan … during both inflation and deflation, is strongly supported. The data are less clear on, but does not reject, the hypothesis … that the parameter on the standard deviation changes sign between inflation and deflation periods. …

The classical definition of inflation refers to increasing the quantity of money in circulation. However, in everyday … language, inflation is seen rather through the effects of monetary expansion, i.e. increasing prices. Therefore, the term … “inflation” generates a semantic confusion, for which could be responsible the omnipresence of consumer price index (CPI) in the …

summarised as follows. (1) Historically, inflation persistence appears to have been the exception, rather than the rule, with … inflation estimated to have been highly persistent only during the period between the floating of the pound, in June 1972, and … the introduction of inflation targeting, in October 1992. Under inflation targeting, it exhibits some slight negative …

For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …

understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United …