This paper calculates core inflation, by imposing long run restrictions on a structural vector autoregression (VAR …) model containing the growth rate of output, inflation and oil prices. Core inflation is identified as that component in … inflation that has no long run effect on output. No restrictions are placed on the response of output and inflation to the oil …

Time series estimates of inflation persistence incur an upward bias if shifts in the inflation target of the central … bank remain unaccounted for. Using a structural time series approach we measure different sorts of inflation persistence … allowing for an unobserved timevarying inflation target. Unobserved components are identified using Kalman filtering and …

. Whereas our methodology is general, we focus on an extended macro-model with unobservable processes for the inflation target … inflation target dominates the variation in the 'level factor' whereas monetary policy shocks dominate the variation in the …

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der … presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage …

in ERPT to CPI inflation for the Finnish economy. Within a logistic smooth transition framework, our investigations …

Inflation is a fundamental category within an economy. Mainstream economists claim that its rate cannot be high nor too … Poland’s inflation target that is fixed on the level of 2,5% annually with the accepted range of +/- 1 percentage point … deviation. Main causes that were shaping the rate of real inflation were also specified. Research methods adopted in this paper …

inflation target. The results indicate that the target rose from 1 1/4 percent in 1959 to over 8 percent in the mid-to-late 1970 … supply-side shocks into more persistent movements in inflation itself, although considerable uncertainty remains about the … true source of shifts in the inflation target. …

Inflation is a fundamental category within an economy. Mainstream economists claim that its rate cannot be high nor too … Poland’s inflation target that is fixed on the level of 2,5% annually with the accepted range of +/- 1 percentage point … deviation. Main causes that were shaping the rate of real inflation were also specified. Research methods adopted in this paper …