In this paper, we estimate trend inflation in Sweden using an unobserved components stochastic volatility model. Using … data from 1995Q4 to 2021Q4 and Bayesian estimation methods, we find that trend inflation has been well-anchored during the … period - although in general at a level below the inflation target - and it does not appear to have been affected much by the …

switch from exchange rate to inflation targeting and adoption of a policy rule for the use of petroleum revenues. We find … that the long-run means of CPI and core inflation rates declined significantly until the mid-1990s and have since then … remained close to the inflation target of 2.5% from 2001 onwards. The persistence in especially CPI inflation has fallen during …

Monetary policymakers in advanced transition economies such as Poland are increasingly interested in how inflation … responds to changes in policy instruments and other economic forces. In this paper, measures of underlying CPI inflation based … economic variables is then studied via Granger causality tests and impulse responses and a multivariate model of CPI inflation …

This paper investigates multivariate Beveridge-Nelson decomposition of key macro aggregate data. We find (a) inflation …

Inflation (PCCI), a measure of underlying inflation in the euro area. The PCCI reflects the view that underlying inflation … component of inflation. Methodologically, it relies on a generalised dynamic factor model estimated on a large set of … disaggregated HICP inflation rates for 12 euro area countries. For each individual inflation rate, we estimate a low …

rate and the inflation rate. Our estimation method uses real-time data in these rates — as did the FOMC — and requires no a … response to a fluctuation in either the unemployment or the inflation rate depended strongly on the persistence of this …

rate and the inflation rate. Our estimation method uses real-time data in these rates - as did the FOMC - and requires no a … response to a fluctuation in either the unemployment or the inflation rate depended strongly on the persistence of this …

, and time-varying trend inflation using post-WWII U.S. data. The model embedding the stochastic target performs better in … policy aggressiveness and inflation gap persistence. …