Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no …, inflation appears to be (nearly) purely forward-looking, so that no mechanism introducing backward-looking components is … necessary to fit the data. These results question the notion that the intrinsic inflation persistence found in post-WWII U …

creating inflation). Finally, I show that the highest welfare level is achieved when counterfeiting is costly, or when the …

This paper presents new nonlinear regression estimates of the relationship between inflation and economic growth for 80 … between 1961 and 2000. The paper consistently finds that higher inflation is associated with moderate gains in gross domestic … product growth up to a roughly 15-18 percent inflation threshold. However, the findings diverge when we divide our full data …

of intermediate-level collective bargaining, leading to persistently bad outcomes in terms of inflation and unemployment … bargaining structure in Spain are a determinant factor of the rates of unemployment and inflation. …

The aim of this paper is to investigate the performance of the Phillips curve to forecast inflation in a high inflation … correction model, and a naive no-change model. The data pertains to the quarterly inflation rate in Turkey for the 1987 …-2001 period. The results show that inflation forecasts obtained from the Phillips curve are found to be more accurate than …