unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and … an upward sloping curve for high inflation rates. The reason is that low inflation rates make saving, as opposed to …, when inflation exceeds a certain threshold, money is too costly to hold, which results in a decrease in output and an …

This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and … uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role … does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging …

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative … relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …

testing approach to cointegration. Empirical results indicated that inflation in Nigeria proxied by CPI exhibited a strong … degree of inertia. The econometric results showed that past inflation and average rainfall appeared to have been the main … supply in the inflation process, lending credence to the dominance of the monetarist proposition on inflation dynamics in …

The ability of the New Keynesian Phillips curve to explain US inflation dynamics when official central bank forecasts … (Greenbook forecasts) are used as a proxy for inflation expectations is examined. The New Keynesian Phillips curve is estimated … using actual data on future inflation as conventionally employed in empirical work under the assumption of rational …

inflationary pressures increase NIM. This strongly increases credit and thereby output, but it dampens inflation by relaxing price … setters’ credit rationing constraint. At the ZLBD, monetary policy has far larger effects on output relative to inflation, and … suggests urgency in returning inflation to targets, avoidance of negative policy rates, and a strong influence of credit …