This paper implements recursive techniques to estimate the equilibrium level of M2 velocity and to forecast inflation …-time forecasts of inflation and evaluate the performance of the forecasts obtained from the alternative models. We find that while a … P* model assuming a constant equilibrium velocity does not provide accurate inflation forecasts in the 1990s, a model …

A number of recent studies have suggested that activist stabilization policy rules responding to inflation and the … output gap can attain simultaneously a low and stable rate of inflation as well as a high degree of economic stability. The …

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy … allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of … the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing …

A number of recent studies have suggested that activist stabilization policy rules responding to inflation and the … output gap can attain simultaneously a low and stable rate of inflation as well as a high degree of economic stability. The …