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 evaluate the performance of inflation forecasts based on the open-economy Phillips curve by exploiting the spatial … pattern of international propagation of inflation. We model these spatial linkages using global inflation and either domestic … slack or oil price fluctuations, motivated by a novel interpretation of the forecasting implications of the workhorse open …

Various inflation forecasting models are compared using a simulated out-of-sample forecasting framework. We focus on … the question of whether monetary aggregates are useful for forecasting inflation, but unlike previous work we examine a … models for forecasting, and helps to explain previous findings of the failure of VEC models to forecast better than VAR …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …

This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a …-run Phillips curve suggests the development of a holistic framework that can jointly explain the evolution of inflation and … equations. We then evaluate the inflation-unemployment tradeoff and assess the impact of productivity, money growth, budget …

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a … has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties. …

presents the first structural Phillips curve estimations for a New EU Member State economy. We find that Hungarian inflation … imported goods as intermediate production goods. Our estimation results indicate that Hungarian inflation is significantly more … inertial than Euro area inflation. Hungarian inflation inertia appears to be the result of pervasive backward looking price …

-economy Phillips curves under standard measures of global slack do not help forecast domestic inflation, possibly indicating …-2015:Q1 period and appear to be reliable proxies for global slack in forecasting inflation. …We investigate empirically the inflation dynamics in New Zealand, a small open economy and a pioneer in inflation …

Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …