The aim of the article is to clarify the controversies surrounding the relationship between inflation and unemployment … also an increase in inflation. The article, therefore, hypothesises that the relationships between unemployment and … inflation in the countries studied during the above period were unidirectional. To verify this hypothesis, two basic research …

This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target … identified inflation target shock. We apply these findings to calibrate the effect of a shock to the inflation target in a new …-Keynesian DSGE model of the Japanese economy. We argue that imperfect observability of the inflation target and a separate exchange …

structural model. Globalization is modeled as a time-varying degree of openness in the economy. We estimate the model allowing … become much more sensitive toward global measures over the 1991-2012 sample. In particular, domestic output and inflation are … significantly affected by global output. Fluctuations in Korean output, inflation, and interest rates, which were driven for the …

This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target … identified inflation target shock. We apply these findings to calibrate the effect of a shock to the inflation target in a new …-Keynesian DSGE model of the Japanese economy. We argue that imperfect observability of the inflation target and a separate exchange …

Recent oil price shocks have relatively small effects on real economic activity and inflation compared to the …