is a potentially important source of inflation in Ghana. Using variance decomposition analyses, it is found that monetary … policy implication of these findings is that policies that aim at lowering inflation must focus on monetary and exchange rate …

economies, we find that the main driver of consumer price inflation is the global demand shock. A negative global demand shock …

The paper studies exchange rate implications of trend inflation within a two-country New Keynesian (NK) model under … incomplete international financial markets. A NK Phillips curve generalized by trend inflation with a positive long-run mean … implies an expectational difference equation of inflation with higher-order leads of expected inflation. The resulting two …

. There is strong evidence of a positive and significant association between the pass-through and the average inflation rate … across countries and periods. The inflation rate, moreover, dominates other macroeconomic variables in explaining cross …

strategies may be well described by Taylor rules with a time-varying inflation target, a time-varying natural rate of … benchmark model that does not account for changes in trend inflation and trend unemployment. …

inflation is found to be quite sensitive to the unemployment gap. An increase in cyclical unemployment by 1 percentage point … will reduce inflation by approximately 0.6 percentage points within a year. …