employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for …-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest … inflation. Third, we perform an out-of-sample forecast to identify where the economy — and therefore policy — was likely headed …

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for …-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest … inflation. Third, we perform an out-of-sample forecast to identify where the economy—and therefore policy—was likely headed …

inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …

influence on the price level and the inflation rate, respectively. Finally, the analysis suggests that financial market …