hybrid specification that includes both lagged and future inflation and then by examining whether the estimated coefficient … on future inflation is significantly larger than the one on lagged inflation. This article presents the evidence that … is irrelevant and expected future inflation is the major determinant of inflation — arise if the hybrid specification is …

inflation. The model, named the rational-arrangements Phillips curve, identifies a central role for catch-up to price inflation … that has already occurred and a more latent role for rational expectations of future inflation. The reinterpreted Phillips …-neutrality, is consistent with inflation persistence in the aftermath of monetary shocks, informs monetary policymaking in hyper …

Despite closing output gaps and tightening labor markets, inflation has remained low inthe euro area. Based on an … augmented Phillips Curve framework, we find that thisphenomenon-sometimes attributed to low global inflation-has been primarily … causedby a remarkable persistence of inflation, keeping it low despite the reduction in slack. Thisfeature is shown to be …

inflation. Bill, Klenow and Malin (2012) show that, while these shocks are needed to reduce the excessive inflation persistence … generated by the models, they give rise to unrealistically volatile reset price inflation. This paper shows that introducing … the data on reset inflation …

the paper let me trace changes of the natural unemployment rate in Poland in the context of structural changes in the … fiscal variables, the model is able to replicate high degree of the unemployment persistence …