the Phillips curve over time. We consider different specifications and different measures for inflation. Furthermore, we … include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space ….S. headline inflation has remained empirically relevant over the years. …

inflation persistence emphasizes the role of credible monetary policy in inflation dynamics …This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus …

and persistence, especially in the case of CPI. Since the two variables have different degrees of integration in each of …

model fits the data well, and the results suggest that inflation persistence follows from future expectations. Persistence …We propose a noncausal autoregressive model with time-varying parameters, and apply it to U.S. postwar inflation. The … curve indicate that current inflation also depends on past inflation although future expectations dominate. The implied …

Anchored inflation expectations are of key importance for monetary policy. If long-terminflation expectations arewell … breaks to investigate the de- and re-anchoring of US inflation expectations. We confirm earlier evidence on the de …

Changing time series properties of US inflation and economic activity are analyzed within a class of extended Phillips … models that describe changing patterns in low and high frequencies and backward as well as forward inflation expectation … performance. Weak identification and dynamic persistence appear less important when time varying dynamics of high and low …

. This paper continues this strand of research by examining the role survey expectations play in the inflation process and … reports three principal findings. One, short-run inflation expectations appear to play a significant role in explaining U ….S. inflation over the past 20-25 years. Two, long-run expectations generally do not appear to have a direct influence on U …

importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also …