This paper uses disaggregate inflation data spanning all of consumption to examine: (i) the persistence of disaggregate … inflation relative to aggregate infation; (ii) the distribution of persistence across consumption sectors; and (iii) whether … persistence has changed. Assuming mean inflation to be unchanged within samples, the average persistence of disaggregate inflation …

We propose a measure of core inflation which is derived from a Markov switching ARFIMA model. The Markov switching … unconditional mean. By imposing a coswitching restriction for nominal money growth and HICP inflation we are able to identify three … regimes and establish a linkage between the long-run dynamics of inflation and money growth. The last regime has been found to …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

We apply classical econometric method to characterize the dynamic behavior of the quarter-on-quarter inflation over the … inflation series and as well as for the consumer price inflation at representative product groups level, taking into account the … influence of structural breaks in the mean of inflation on the level of persistence. We find strong evidence for a break in the …

We estimate an empirical model of inflation that exploits a Phillips curve relationship between a measure of … unemployment and a subaggregate measure of inflation (services). We generate an aggregate inflation forecast from forecasts of the … statistics for models that exploit relationships between services inflation and the unemployment rate. In addition, models of …

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 …

-run relationship between inflation and output is positive in the Rotemberg model and negative in the Calvo model. ii) The log … inflation enlarges the determinacy region in the Rotemberg model, while it shrinks the determinacy region in the Calvo model. iv …) The responses of output and inflation to a positive technology shock are amplified by trend inflation in Calvo, while they …

the tradeable sector. They also suggest that the sales destination matters: wage growth contributes to domestic inflation … for goods but not to export inflation. Finally, we also provide evidence of an increase in the wage-price pass …

achieved by maximization of utility subject to budget constraint. An increase in inflation that is not accompanied by … about inflation which in turn requires appropriate modelling of inflationary behavior. This study assesses efficacies of … different versions of new Keynesian Phillips curve for capturing dynamics of CPI inflation. Estimation of different formulations …

This paper examines the causal effects of shifts in international food commodity prices on euro area inflation dynamics …%-30% of inflation volatility. In addition, large autonomous swings in international food prices contributed significantly to … the twin puzzle of missing disinflation and missing inflation in the era after the Great Recession. Specifically, without …