, 𝑢𝑡 ∗ , in the aftermath of the pandemic and characterize its implications for inflation dynamics. While the bulk of the … inflation surge is attributed to temporary supply factors, we also find an important role for current and expected negative …

' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …

The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is a variable of interest to policy makers as it provides … details Treasury's updated model. We consider specification choices that include: updating the measures of inflation and … inflation expectations; the introduction of a productivity gap term; the inclusion of a structural break to allow for the …