This paper discusses four potential sources of lag dynamics in inflation: non-rational behavior, staggered contracting …, frictions on price adjustment, and shifts in the long-run inflation anchor of agent expectations (the perceived inflation target …). Expressions for inflation dynamics from structural models which admit these different sources of lag dynamics are contrasted …

In this paper we simultaneously estimate the real exchange rates between the Swedish Krona, the US Dollar and the Euro …

empirical work is illustrated by two applications to euro area data on inflation, output and interest rates …

This paper examines euro area inflation dynamics by estimating open economy New Keynesian Phillips curves based on the … closed economy New Keynesian Phillips curve, euro area inflation dynamics are better captured by the open economy … of the New Keynesian Phillips curve is needed in order to capture the euro area inflation process properly. We also …

This paper looks at the implications of heterogeneous beliefs for inflation dynamics. Following a monetary policy shock …, inflation peaks after output, is inertial, and can be characterized by a Hybrid Phillips Curve. It presents a novel channel … through which systematic monetary policy can affect the degree of inflation persistence. It does so by altering the effective …

This paper looks at the implications of heterogeneous beliefs for inflation dynamics. Following a monetary policy shock …, inflation peaks after output, is inertial, and can be characterized by a Hybrid Phillips Curve. It presents a novel channel … through which systematic monetary policy can affect the degree of inflation persistence. It does so by altering the effective …

Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …