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Trend Inflation, Wage Indexation, and Determinacy in the U.S.

Ascari, Guido; Branzoli, Nicola; Castelnuovo, Efrem - 2011

We combine an estimated monetary policy rule featuring time-varying trend inflation and stochastic coefficients with a medium scale New Keynesian framework calibrated on the U.S. economy. We find the impact of variations in trend inflation on the likelihood of equilibrium determinacy to be both...

Persistent link: https://www.econbiz.de/10010343856

Monetary policy, trend inflation, and the great moderation: an alternative interpretation : omment based on system estimation

Hirose, Yasuo; Kurozumi, Takushi; Van Zandweghe, Willem - 2015

Persistent link: https://www.econbiz.de/10011484704

Explaining Inflation-Gap Persistence by a Time-Varying Taylor Rule

Conrad, Christian - 2012

In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a function of the policy weights in the central bank's Taylor rule. By estimating the time-varying weights that the FED attaches to inflation and the output gap, we show that the...

Persistent link: https://www.econbiz.de/10013115531

Modelling inflation rate volatility in Nigeria with structural breaks

Fasanya, Ismail O.; Adekoya, Oluwasegun B. - In: CBN journal of applied statistics 8 (2017) 1, pp. 175-193

This study compares the performance of GARCH-Type models in modelling inflation volatility in Nigeria covering the … asymmetric volatility models. The empirical examination observes evidence of volatility persistence in the consumer price indices … the role of structural breaks for inflation rate volatility in Nigeria will yield misleading and invalid policy …

Persistent link: https://www.econbiz.de/10011840993

Openness and Aggressive Monetary Policy : A Study of Inflation Volatility and Persistence

Lo, Melody; Wong, M. C. Sunny; Granato, Jim - 2003

aggressive monetary policies which results in less inflation volatility and persistence. We find this pattern emerges strongly …

Persistent link: https://www.econbiz.de/10014088615

Cross-checking optimal monetary policy with information from the Taylor rule

Tillmann, Peter - 2011

volatility in the effective loss function, which reduces the stabilization bias of discretionary monetary policy. The welfare …

Persistent link: https://www.econbiz.de/10009244262

How to measure inflation volatility. A note

Garcia-Hiernaux, Alfredo; Gonzalez-Perez, Maria T.; … - 2023

This paper proposes a statistical model and a conceptual framework to estimate inflation volatility assuming rational … the conditional inflation volatility for Germany, Spain, the euro area and the United States using monthly data from … inflation volatility into positive and negative surprise components and characterise different inflation volatility scenarios …

Persistent link: https://www.econbiz.de/10014354208

Monetary factors and inflation in Japan

Assenmacher, Katrin; Gerlach, Stefan; Sekine, Toshitaka - 2007

Recently, the Bank of Japan outlined a "two perspectives" approach to the conduct of monetary policy that focuses on risks to price stability over different time horizons. Interpreting this as pertaining to different frequency bands, we use band spectrum regression to study the determination of...

Persistent link: https://www.econbiz.de/10010382347

Monetary policy, trend inflation and unemployment volatility

Alves, Sergio Afonso Lago - 2016

Persistent link: https://www.econbiz.de/10011735832

Monetary policy, inflation target and the Great Moderation : an empirical investigation

Haque, Qazi - 2019

Persistent link: https://www.econbiz.de/10012223995