present is that the rapid decline in inflation in many countries in recent months will turn into deflation with highly adverse … situation. Inflation expectations and forecasts in the subset of economies we look at (the euro area, the UK and the US) are … evolution of headline and "core" inflation, focusing on data from the US and the euro area. Section 4 reviews how monetary and …

We examine the relationship between inflation and inflation uncertainty using a GARCH model that allows for … simultaneous feedback between the conditional mean and variance of inflation. We also derive a number of theoretical econometric … results and illustrate the relevance of these results with an empirical example of the US monthly inflation process. Our …