changing nature of inflation dynamics. We estimate a series of VAR models for a set of six Asian emerging market economies, in … parts of inflation and output dynamics. The global shocks are procyclical with respect to the domestic components of … domestic components. For the domestic component of GDP we find a positive and significant Phillips curve slope. While the …

In this paper we reconsider the degree of international comovement of inflation rates. We use a dynamic hierarchical … factor model that is able to decompose Consumer Price Index (CPI) inflation in a panel of countries into (i) a factor common … to all inflation series and all countries, (ii) a factor specific to a given sub-section of the CPI, (iii) a country …

In this paper we reconsider the degree of international comovement of inflation rates. We use a dynamic hierarchical … factor model that is able to decompose Consumer Price Index (CPI) inflation in a panel of countries into (i) a factor common … to all inflation series and all countries, (ii) a factor specific to a given sub-section of the CPI, (iii) a country …

In this paper we reconsider the degree of international comovement of inflation rates. We use a dynamic hierarchical … factor model that is able to decompose Consumer Price Index (CPI) inflation in a panel of countries into (i) a factor common … to all inflation series and all countries, (ii) a factor specific to a given sub-section of the CPI, (iii) a country …

We examine both the degree and the structural stability of inflation persistence at different quantiles of the … conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation … higher inflation persistence at the upper than at the lower tail of the conditional inflation distribution. Based on post …

deciding about interest rate policy, members individually formulate regular inflation forecasts. This paper uncovers systematic … differences in individual inflation forecasts submitted by voting and non-voting members. Based on a data set with individual … forecasts recently made available it is shown that non-voters systematically overpredict inflation relative to the consensus …