With the concept of trend inflation now widely understood as to be important as a measure of the public's perception of the inflation goal of the central bank and important to the accuracy of longer-term inflation forecasts, this paper uses Bayesian methods to assess alternative models of trend...

The simultaneous decline of core inflation with the increase in the unemployment rate during the recession of 2007-09 has renewed debate about the use of economic slack, such as unemployment, for predicting inflation. Doh examines the relationship between cyclical fluctuations in inflation and...

South Korea raised the nation-wide minimum wage substantially over the past two years (2018 and 2019), and the minimum wage rose from 53 percent of the median wage to 63 percent. While the minimum wage has been increasing steadily over the decades, the rapid pace was largely unexpected and...