The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

A central equation for the fiscal theory of the price level (FTPL) is the government budget constraint (or “government …

and disaggregated inflation where the disaggregated inflation comprises energy CPI, food CPI, Core CPI, and transport CPI … NARDL model suggest evidence of the asymmetric impact of oil price change on both aggregated and disaggregated inflation …-indexes of inflation, suggesting that oil price changes affect the transport sector more than the other sectors of an economy …

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 …

equilibrium exists. We study the response differences in the dynamics of the inflation rate to changes in the mean and variance of … the Great Recession, in which the effects of greater model uncertainty may have played a role in keeping inflation rates …

Monetary policymakers and long-term investors would benefit greatly from a measure of underlying inflation that uses … all relevant information, is available in real-time, and forecasts inflation better than traditional underlying inflation … measures such as core inflation measures. This paper presents the "Federal Reserve Bank of New York (FRBNY) Staff Underlying …

This study analyzes global inflation synchronization and derives policy implications for the Korean economy. Unlike … previous studies that assume a single global inflation factor, this study investigates if inflation in Korea can be explained … further by other global inflation factors. Our principal component analysis provides three principal components for global …

This chapter examines the concept of inflation persistence in macroeconomic theory. It begins by defining persistence … persistence from the literature on imperfect information models, learning models, and so-called “trend inflation models …