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 …

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 …

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 …

for economic analysis. This paper demonstrates how a VAR model with long run restrictions justified by economic theory can … index of monetary conditions; dynamic forecasts of inflation; and the relation between inflation and the output gap …

detect three regimes corresponding to the periods of "Great Inflation", "Great Moderation", and the zero lower bound (ZLB … monetary policy shocks playing virtually no role during this period. In the third-regime, unconventional monetary policy shock …

inadequate policy tools and theory from the interwar period, set the stage for the Great Inflation of the 1970s. The lessons from … that experience have convinced monetary authorities to reemphasize the goal of low inflation, as it were, committing …

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