. The representative agent's perceived law of motion allows for both temporary and permanent shocks to inflation, the latter … intended to capture the possibility of evolving shifts in the central bank's inflation target. The agent's perceived optimal … forecast rule defined by the Kalman filter is parameterized to be consistent with the observed moments of the inflation time …

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 … frequencies are carefully modeled. Modeling inflation expectations using survey data and adding level shifts and stochastic …

Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a …. Forward as well as backward looking expectation mechanisms for inflation are incorporated and their relative importance … evaluated. Survey data on expected inflation are introduced to strengthen the information in the likelihood. Use is made of …

This paper introduces a form of boundedly-rational inflation expectations in the New Keynesian Phillips curve. The … representative agent is assumed to behave as an econometrician, employing a time series model for inflation that allows for both … permanent and temporary shocks. The near-unity coefficient on expected inflation in the Phillips curve causes the agent …

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated … unconditional moments of inflation dynamics better while sticky information is more successful in matching co-movement of inflation …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather muted … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a Phillips …

Low rates of inflation have been recorded in recent years, despite a decline in the unemployment rate. This phenomenon … explain the recent behavior of inflation. A leading explanation for recent inflation performance appears to be favorable price …

the evidence in favour a nonlinear Phillips curve may is fact be driven by improperly controlling for inflation …

Recent empirical work has considered the prediction of inflation by combining the information in a large number of time … the forecasts over a large number of different models, each of which is a linear regression model that relates inflation … pseudo out-of-sample prediction of US inflation, and find that it gives more accurate forecasts than simple equal weighted …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a …