Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

theoretical predictions and simulations are corroborated when forecasting aggregate US inflation pre- and post 1984 using …

equilibrium level implied by the model seem to contain information on future changes in inflation, though not on its level. …

Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …

-oil import price shocks to euro area inflation at different stages of distribution (import prices, producer prices and consumer … large fraction of the variance in all price indices. They seem to have contributed largely to inflation in the euro area …

higher than one half. The results from illustrative simulations suggest that the increase in euro-area inflation during the …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …