inflation and inflation uncertainty. Thus, we can test for state-dependence of the Calvo parameter in a straightforward way. To … that a number of shortcomings of empirical NKPC model representations in explaining inflation data may be addressed by … the relation between inflation and marginal costs are considerably reduced in the framework of our more general NKPC …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …