In this paper, we investigate empirically the relationship between inflation and inflation uncertainty in twelve EMU … countries. We estimate a time-varying parameter model with a GARCH specification for the conditional volatility of inflation in … links between inflation and inflation uncertainty. We find that steady-state inflation has generally remained stable (with …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …

sources of the rise and fall of the Great Inflation from the late 1960s to the early 1980s and of the Great Moderation of … periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced, as a more vigorous … stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In addition, they find that …

predicting Turkish inflation and output growth in last two decades both in-and out-of-sample. We used all time series approaches … information in predicting inflation and output in Turkey. Divisia aggregates have superior information content in predicting … output, real or nominal. In forecasting inflation, we make a distinction between high- and low-inflation environments. In …

During the last years, a number of countries have adopted formal inflation targeting (IT) monetary policy frameworks in … a context of global inflation moderation. This paper studies inflation dynamics in eight Latin American countries, some … of which have adopted formal targets. We analyze possible benefits associated with IT in terms of lower inflation …

financial (and agricultural) output, and Farm Business Income (FBI), whilst the Lifestyle Choice segment returned the lowest …

dependence implying that as output recessions age the likelihood of switching into an expansion phase increases. Unemployment …