Inflation is a monetary phenomenon. While this statement is widely accepted in terms of a long-run relationship, the … quantity theory has been made operational also for the short-run dynamics of inflation by so-called Pstar models. An error … inflation. The response of the HICP is strongly positive. Other factors such as raw material prices and unit labor costs also …

uncertainty: such rules respond to the one-year ahead inflation forecast and to the current output gap, and incorporate a …

This paper shows that for five small commodity-exporting countries that have adopted inflation targeting monetary … policies, world commodity price aggregates have predictive power for their CPI and PPI inflation, particularly once possible …

Producing and revealing inflation forecasts is believed to be the best way of implementing a forward-looking monetary … policy. The article focuses on inflation forecast targeting (IFT) at the Czech National Bank (CNB) in terms of its efficiency … in shaping consumers' inflation expectations. The goal of the study is to verify accuracy of the inflation forecasts, and …

This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over …. The results suggest that monetary indicators are still useful indicators for inflation in the euro area, but that a … inflation. …

indicators in predicting euro area HICP inflation out-of-sample over the period first quarter 1999 till third quarter 2006 …

theoretical predictions and simulations are corroborated when forecasting aggregate US inflation pre- and post 1984 using …