particular, we find that commodity price shocks explain a large share of cyclical movements in inflation. Neutral technology …

model in which endogenous regime switches are triggered by the inflation rate. The model separates a high from a low … inflation regime with both regimes being strongly persistent. Generalized impulse response functions highlight important across …-regime differences in the responses of the economy to monetary policy and inflation shocks. Simulating both regimes with individual …

datain that period. To calculate asymptotically valid confidence intervals we use the delta method and two bootstrap variants … Bootstrap-Varianten. Zur Illustration analysieren wir die Unsicherheit der geschätzten Produktionslücken in den USA, in einem …

This paper aims to improve the understanding of U.S. inflation dynamics by separating out structural from cyclical … effects using frequency domain techniques. Most empirical studies of inflation dynamics do not distinguish between secular and …) and new Keynesian Phillips curve (NKPC) models of inflation, and conclude that the long-run secular decline in inflation …

effects of uncertainty shocks on inflation. We find the response of inflation to be statistically insignificant until mid …

; and, when prices and wages are not reoptimized, they can be partially adjusted to previous-period aggregate inflation. The … joint dynamics of inflation and labor share. This function summarizes the cross-equation restrictions between the model and …