earlier work by Sbordone. The estimator is again applied to a version of the New Keynesian Phillips curve, in which inflation …. While confirming the importance of forward-looking terms in accounting for inflation dynamics, it suggests how the … methodology can be applied to extend the analysis of inflation to a multivariate setting …

sticky-price version of the New Keynesian Phillips Curve does a good job of approximating US inflation dynamics. However … to the entire underlying model of the NKPC. Thus I conclude that the NKPC fails to give a sound explanation of inflation …

importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also …

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. …

Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the … therefore examines the empirical properties of inflation expectations data constructed on the basis of both qualitative and … provides some insights into the nature of the interaction between monetary policy and inflation expectations. …

We present a framework for interpretation of the empirical results of New Keynesian models of inflation dynamics. Both … literature. For example, we show that the unit-root form of non-stationary may be implied for inflation even though the …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …