This paper focuses on modeling and forecasting inflation in India using an augmented Phillips curve framework. Both … demand and supply factors are seen as drivers of inflation. Demand conditions are found to have a stronger impact on non …-food manufactured products (NFMP) inflation vis-a-vis headline wholesale price inflation; moreover, NFMP inflation is found to be more …

between inflation and aggregate output. This study endeavors to advance previous studies in three ways. First, the literature …. These include the stock (and flow) of government debt, the issuance of inflation-indexed bonds, and the existence of … explicit inflation targets. Second, previous studies unfortunately exclude non-OECD countries. Third, the literature is divided …

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 …

output and inflation, as observed in a vectorautoregression analysis. In contrast to backward indexation to past inflation …, which is often assumed in the literature, sticky information leads to a hump-shaped response in the inflation of flexibly …

Since the early 1980s, the United States economy has changed in some important ways: Inflation now rises considerably … less when unemployment falls and the volatility of output and inflation have fallen sharply. This paper examines whether … volatility of monetary policy reaction functions can account for most or all of the change in the inflation …

for inflation dynamics: under right-to-manage, the real wage rigidity also results in smaller fluctuations of inflation …. These findings are consistent with recent evidence suggesting that real wages and inflation only vary by a moderate amount …

This paper estimates a New Keynesian model with trend inflation and contrasts Taylor rules featuring fixed versus time …-varying inflation target while allowing for passive monetary policy. The estimation is conducted over the Great Inflation and the Great … Moderation periods. Time-varying inflation target empirically fits better and active monetary policy prevails in both periods …

We propose and test a new explanation for the rise and fall of the Great Inflation, a defining event in macroeconomics … inflation and further lowered the real return to saving, setting off an inflation spiral. The repeal of Regulation Q broke the … spiral by sending deposit rates sharply higher. We document that the rise and fall of the Great Inflation lines up closely …

The recently observed disconnect between inflation and economic activity can be explained by the interplay between the … offset the effect of lower factor costs and induce only moderate inflation responses. The Phillips curve is hence flat at the …