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 … application of the minimum distance estimation. The estimated model can explain the cyclical behavior of employment, hours per …

In the paper we propose a new methodological approach to core in- flation estimation, based on a frequency domain … 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 …

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