The ability of the New Keynesian Phillips curve to explain US inflation dynamics when official central bank forecasts … (Greenbook forecasts) are used as a proxy for inflation expectations is examined. The New Keynesian Phillips curve is estimated … using actual data on future inflation as conventionally employed in empirical work under the assumption of rational …

Under inflation targeting and other related monetary policy regimes, the identication of non-transitory inflation and … forecasts about future inflation constitute key ingredients for monetary policy decisions. In practice, central banks perform … these tasks using so-called "core inflation measures". In this paper we construct alternative core inflation measures using …

This paper is concerned with inflation targeting as a potential monetary policy objective in a developing economy … short-run inflation targets. It is found that due to the particular cross-sectional properties of the relative … concerned with the choice of alternative indicators of inflation and their statistical properties. These alternative measures …

This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed … from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation … Search Index (GISI) is assessed relative to 37 other indicators of inflation expectations – 36 survey measures and the TIPS …

In the paper we have investigated to what extent the behaviour of CPI inflation depends on changes in domestic economic … price indices respond to exchange rate movements and/or foreign inflation. The impact of exchange rate is most substantial …

Countries in which inflation targeting has been adopted require high quality inflation forecasts. The Polish National … Bank adopted a variant of implicit inflation targeting and therefore the ability to forecast inflation is critically … important to policy makers. Since the domestic price formation process is still evolving, medium term inflation forecasting is …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

Ethiopia has experienced a historically unprecedented increase in inflation, mainly driven by cereal price inflation … models to identify the relative importance of several factors contributing to overall inflation and its three major … supply shocks and inflation inertia strongly affect domestic inflation, causing large deviations from long-run price trends …

We analyze short-run dynamics of inflation in Ethiopia, using a parsimonious error-correction model fitted with monthly … observations. Our findings show that increased money supply and the nominal exchange rate significantly affect inflation in the … inflation effectively. To circumvent an extreme tightening with discouraging impacts on growth, additional measures are needed …

Over the past 25 years inflation has moderated considerably in all OECD economies. At the same time, the production of …-OECD economies has risen markedly. This paper investigates the extent to which the observed changes in the inflation process can be … inflation to domestic economic conditions has declined whereas the sensitivity to foreign economic conditions has risen, working …