are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and … energy prices have been the main disinflationary driver. But low core inflation in the euro area has also had a clear and …

paper evaluates a sequence of inflation forecasts in the Norges Bank Inflation Report, and we present automatized forecasts … for the official forecasts. On the basis of the evidence, the recent inflation forecast failure appears to have been …

Indian food and fuel inflation has remained high for several years, and second-round effects on core inflation are … model of the Indian economy, which incorporates pass-through from headline inflation to core inflation. The results indicate … that India's inflation is highly inertial and persistent. Due to second-round effects, the gap between headline inflation …

developing countries. We define first-round effects as changes in headline inflation that, holding core inflation constant, help …

fundamentals such as inflation and the current account balance. In line with earlier literature, portfolio flows to emerging …

subsequent real activity and inflation. Some of these relationships are highly significant, but their theoretical motivations … empirical relationships are in fact stable. We consider continuous models, which predict either economic growth or inflation … Germany and the United States. Models that predict real activity are more stable than those that predict inflation, and binary …