long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

We investigate empirically the inflation dynamics in New Zealand, a small open economy and a pioneer in inflation …-economy Phillips curves under standard measures of global slack do not help forecast domestic inflation, possibly indicating … measurement problems with global slack itself. In turn, under a stable inflation target we still find that (i) global inflation or …

changing nature of inflation dynamics. We estimate a series of VAR models for a set of six Asian emerging market economies, in … parts of inflation and output dynamics. The global shocks are procyclical with respect to the domestic components of …