framework, indicating demand pressure that generates inflation. The output gap is also an important variable in itself, as a … value added in predicting inflation. The multivariate measures of the output gap have by far the best predictive power. This … predicting inflation. As uncertainties are particularly pronounced at the end of the calculation periods, assessment of pressures …

useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …

useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …

This study analyses India's inflation using the Phillips curve theory. To estimate an open-economy Phillips curve, we … need three variables: (1) inflation (2) the output gap and (3) the real effective exchange rate. In India, the incorrect … composite consumer price index (CCPI) was the best measure of inflation, and should be used to construct the real effective …

The concept of cointegration (see e.g., Engle and Granger, 1987; Johansen, 1988) has extensively been used to model …

importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also …