This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated … unconditional moments of inflation dynamics better while sticky information is more successful in matching co-movement of inflation …

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 …

We analyze forecasts of inflation and GDP growth contained in Banco de México's Survey of Professional Forecasters for …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …

.S. inflation. We examine the overall performance of Phillips curves relative to some well-known benchmarks, the efficiency with … which the Federal Reserve's Greenbook forecasts of inflation use real activity information, and shifts in the key … determinants of the reduced-form triangle model" of inflation. We develop a structural model-based interpretation of observed …

Changing time series properties of US inflation and economic activity are analyzed within a class of extended Phillips … models that describe changing patterns in low and high frequencies and backward as well as forward inflation expectation … frequencies are carefully modeled. Modeling inflation expectations using survey data and adding level shifts and stochastic …

Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a …. Forward as well as backward looking expectation mechanisms for inflation are incorporated and their relative importance … evaluated. Survey data on expected inflation are introduced to strengthen the information in the likelihood. Use is made of …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …