This paper conducts a structural analysis of inflation persistence in the United Kingdom between 1965-2009. I allow for … and stochastic shock volatility. The first policy regime responds passively to movements in inflation, adjusting the … other regime responds actively to inflation and places less weight on exchange rate movements. This regime is present for …

inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …

substantial fraction of the cyclical variation in output and is consistent with the observed inertia in inflation. This is true …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability … of output and inflation depend crucially on the proportion of firms that are allowed to change their prices. We test this …-cyclical correlation between the skewness of inflation and aggregates, but the relation with output is less sure. Our results can be …

Whittle estimation method, the research examines the longmemory properties of headline inflation through monthly data from … January 1996 to January 2023. The study expands upon existing knowledge of inflation persistence by exploring its changes and … the various patterns of inflation persistence in Europe. The findings reveal significant differences in the persistence of …

area (EA) and the US. The estimations show that until mid-2014 the ECB's response to inflation was more forceful when … inflation was above 2% than below 2%. Since then, the ECB's policy can be characterised as symmetric, and we quantify the … bound and a low neutral real rate, and find that it prescribes a stronger response to inflation and the output gap when …