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 … are also reported on. The first shows that cointegration vector parameter estimation error is crucial when using VEC …

the naive one by a factor of 2 to 3. The relationships for inflation were successfully tested for cointegration. We have … and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … relationships were estimated eight years ago. The change rate of labour force was used as a driving force of inflation and …

on the PPI seems to be useful to improve forecasts of CPI inflation. In particular, CPI inflation responds significantly …

In this paper we study 2-state Markov switching VAR models of monthly unemployment and inflation for three countries …: Sweden, United Kingdom, and the United States. The primary purpose is to examine if periods of low inflation are associated … variance in unemployment. In the U.S. case we find that the variance of unemployment is lower in the low inflation regime than …

the price mark-up on imported and labor costs and its relation to inflation, using cointegration techniques. It is found …This paper provides evidence on price markup and inflation dynamics in Italy over the period 1970-1998. We investigate … that, despite different policy regimes across decades, the relation between the markup and inflation is remarkably stable …

Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves … describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current … inflation rate. This paper studies the (potential) weak identification of these curves under GMM and traces this syndrome to a …

An approach to decomposing and interpreting the inflation process is proposed. It suggests that the low U.S. inflation …

Inflation has been the major global economic problem for most economies throughout the world over the last three … money. According to this hypothesis, inflation results solely from a maintained expansion of the money stock at rates in …, which may have influenced prices, were included in the cointegration regressions. Second, the finding of a unidirectional …

framework. Using the Johansen cointegration procedure, results indicate the existence of one cointegrating vectors at least for …