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. …

, prompting them to raise markups and prices in anticipation of potentially higher future inflation. These findings establish a … connection between heightened uncertainty, higher core inflation, and increased profits. …

their expenditure shares when forming expectations about price inflation. We develop a simple dynamic model of the economy … for individuals to place more weight on the movement of prices in these sectors. We use survey data on expected inflation … the United States. We find food price inflation is weighted more heavily and energy price inflation is weighted less …

low-inflation policies that have been adopted by a number of central banks in recent years. This credibility problem is … particularly severe for those countries that have a history of high inflation. Gaining credibility is often viewed in the context … aspect of credibility--at least for long-term inflation expectations--may be public views about how future changes in …

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 …

inflation and on unemployment. This relationship can be motivated by the existence of the Taylor rule. Using micro survey data … mainly driven by disagreement on inflation. Exploring further determinants, we confirm that central bank transparency as well …

The recently observed disconnect between inflation and economic activity can be explained by the interplay between the … offset the effect of lower factor costs and induce only moderate inflation responses. The Phillips curve is hence flat at the …

inflation. During crises periods, the strength of the transmission of inflation uncertainty shocks from one country to another … tends to intensify. This paper examines empirical methodologies to measure the strength of the interdependence of inflation … uncertainty between the UK and the euro area. We first estimate inflation uncertainty by expost forecast errors from a bivariate …

The term structure of inflation forecasts disagreement in the US can be summarized by two components: disagreement … about the trend inflation, and disagreement about the cyclical inflation. While the former has identical impacts on … forecasting horizons. Only the cyclical inflation disagreement has a significant impact on monetary policy efficacy. High …