This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed … from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation … Search Index (GISI) is assessed relative to 37 other indicators of inflation expectations – 36 survey measures and the TIPS …

We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates … determinants considering its long-run coefficients. Our results indicate that monetary policy has been congruent with the inflation …

We construct inflation pressure indicators based on the long-run relationship that exists between monetary aggregates … determinants considering its long-run coefficients. Our results indicate that monetary policy has been congruent with the inflation …

ability to describe the US inflation data. Specifically, the model allows for long memory in the conditional mean formulation … yields a good description of the salient features, including skewness and heteroskedasticity, of the US inflation data …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus … results indicate that in both economic areas the inflation dynamics have steadily become more forward-looking over time. We …

I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of … inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused … on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus … results indicate that in both economic areas the inflation dynamics have steadily become more forward-looking over time. We …

autoregressive model for the inflation rate. By construction, our approach avoids a number of problems related to the GMM estimation … of the NKPC. We estimate the hybrid NKPC with quarterly U.S. data (1955:1-2010:3), and both expected future inflation and … lagged inflation are found important in determining the inflation rate, with the former clearly dominating. Moreover …

the G7 countries. We first show that nominal interest and inflation rates are better represented as I(0) variables. Later … inflation rates to nominal interest rates is very different than one. …

We examine the relationship between probability of large fluctuations of inflation rate and monetary developments. With … this purpose we identify the periods of high inflation regime for the cross-section of 15 transition economies. The … to a high inflation regime and money growth. We calculate the conditional probability of transition to a high inflation …