systematically understated. The effect rests on overstated inflation estimates due to imputed prices for disappearing goods and …

published data. The underlying effect rests on overstated inflation estimates due to imputed prices for disappearing products …

published data. The underlying effect rests on overstated inflation estimates due to imputed prices for disappearing goods and …

estimated trend. Based on output growth and inflation forecasts and a comparison to revised output gap estimates from policy …

This paper studies uncertainty using the ECB Survey of Professional Forecasters' data. We consider both inflation and … are based on subjective probability distributions of survey respondents. Our analysis indicates that individual inflation … inflation uncertainty has a negative impact on economic activity by decreasing output growth and increasing inflation and …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

to September 2023 as a result of above-average shelter inflation …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … linked via the incentive to innovate. For standard calibrations, the linkage is strong: as trend inflation shifts from -5 to …