principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of … monetary inflation. The proposed measure is characterised by all the properties that an u0093idealu0094 core inflation process …

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

handling of cointegration restrictions. This paper extends the Bayesian analysis of structural VARs to cover cointegrated … processes with an arbitrary number of cointegrating relations and general linear restrictions on the cointegration space. A …

introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the …

Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects … already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining … influence of inflation on factor substitution. It turns out that already in a simple neoclassical monetary growth model this …

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this …. Robustly to alternative definitions of the relative price, identification schemes dictated by two-sided (S,s) pricing theory … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …