Inflation as a phenomenon has witnessed remarkable changes starting from mid-eighties of the last century. Inflation … pull inflation as one of the major determinants of inflation has decreased due to efficient monetary policies that have … been adopted by central banks all over the world to reduce inflation based on anchoring inflation expectations. Moreover …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

over- and under-predicting inflation. Our model implies biased forecasts with positive serial correlation in forecast …Recent empirical work documents substantial disagreement in inflation expectations obtained from survey data … current inflation. This paper offers a simple explanation for these facts based on asymmetries in the forecaster's costs of …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

projections allow a long-term inflation and unemployment forecast: the GDP deflator will be negative (between -0.5% and -2% per …The evolution of the rate of price inflation, (t), and unemployment, u(t), in Japan has been modeled within the … that growing unemployment results in decreasing inflation. A linear and lagged generalized Phillips curve expressed as a …

The aim of this paper is to analyze the forecasting performance of alternative model for the US inflation rate over the … nonlinear time series models, the threshold autoregressive models. The forecast evaluation is conducted on point and density … the series, although in terms of MSFE the Phillips curve specification can yield noticeable forecasting gains for medium …

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 … forecast error (RMSFE) of 1.0% per year at a four-year horizon for the period between 1971 and 2004. The same RMSFE is …

inflation prediction, as described by the root-mean-square (forecasting) error is by 20% to 70% better than that estimated by AR …We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework … macroeconomic variable was first tested as a predictor of inflation and unemployment in 2005 with the involved time series ended in …

The aim of this paper is to investigate the performance of the Phillips curve to forecast inflation in a high inflation … emerging market country by taking Turkey as a case. For this purpose, we compare the forecasting performance of the Phillips … correction model, and a naive no-change model. The data pertains to the quarterly inflation rate in Turkey for the 1987 …

open economy, considering separately the influence of nominal devaluation and foreign inflation on domestic prices. For the … more in determining inflation dynamics. We test for parameter stability and find a break-point in 2002 along with the … regime change. In line with recent literature on trend inflation, when trend inflation increases, the influence of the output …