A statistically significant relationship between the unemployment gap and inflation can be found for a clear majority … slack on inflation can often be dominated by other shocks, including imported inflation. The current Secretariat Phillips … curve specification assumes inflation expectations are anchored at the central bank’s target, although some experimentation …

inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint …, we show that an inflation bias as well as a deflationary bias exist as a steady-state outcome. We assess the predictions … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct …

Central bank surveys frequently elicit households' probabilistic beliefs about future inflation. The responses provide … only a coarse picture of inflation beliefs further away from zero. Using data from the Bundesbank household panel, we show … that the current high-inflation environment induces respondents to allocate considerable probability to the rightmost open …

This paper investigates the changing behavior of inflation expectations in response to the macroeconomic and policy … environment. Using a panel of professional forecasters covering thirteen years of inflation targeting period from Turkey, we … present evidence on the behavioral shifts in the inflation expectations associated with evolving macroeconomic and policy …

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter …

Recent literature suggests that the co-movement of inflation is rather strong across countries. We use a factor model … according to their inflation history. Results indicate that the monetary policy regime is a very important source of the … the Hungarian inflation. We find that Hungary, similar to other countries in the region, experienced a disinflation period …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

The purpose of the present paper is to investigate perceived inflation gap persistence using actual data of … professional forecasts. We derive the unobserved perceived inflation gap persistence and using a state dependent model we estimate … the non-linear persistence coefficient of inflation gap. Our main result is that for GDP deflator inflation, the estimates …

After the introduction of a stabilization program Israeli inflation decreased from 400% in 1985 to 2% in 2013. This … process is defined by three clear steps of high, medium and low inflation. The break dates are in line with major economic …