) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural … model, as well as the cointegrating properties of the estimated system. Overall, in the long run, wage and price inflation …

) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural … model, as well as the cointegrating properties of the estimated system. Overall, in the long run, wage and price inflation …

growth regime. Since the great financial crisis inflation developments have posed major puzzles to economists as inflation … paper analyses whether the wage-price pass-through may have contributed to these inflation puzzles. Applying the Threshold … or diminish the puzzle of the missing disinflation of the past two recessions suggesting that inflation should be …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

GDP-inflation cycles by adopting a trend-cycle decomposition model which allows the trend to be either stochastic or …-in (GDP-to-inflation) and cross-country (CEECs vs. euro area) levels. Allowing for different degrees of cyclical similarity …, we find that a similar inflation vs. GDP cycle is not rejected only for Poland, Lithuania, Romania and Estonia (with …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus … results indicate that in both economic areas the inflation dynamics have steadily become more forward-looking over time. We …