in China inflation dynamics over 1981¨C2007. In order to capture accurately the statistical nature of potential … structural change tests in the presence of nuisance parameter. Empirical results suggest that China inflation dynamics witnessed …

This paper analyzes the domestic and external inflation determinants for eight non-eurozone new EU member states (NMS … inflation determinants. This paper aims to fill this gap and add to the literature by several methodological and empirical … inflation into its domestic and foreign component via historical decomposition analysis. Results indicate that foreign shocks …

Inflation expectations play a crucial role for monetary policy transmission, having become even more important since … determinants of professional inflation expectations for the G7 economies. We emphasize the role of international spillovers in … inflation expectations stemming from monetary policy decisions in the US. We also consider several possible determinants, such …

This paper studies factors behind inflation dynamics in the euro area, the UK and the US. It introduces a factor … inflation in the three economies. The FAVAR model framework is also applied to study the effects on inflation subcomponents in … the more recent past. The FAVAR models suggest that headline inflation in the three economies has reacted in a relatively …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

Much of the US inflation forecasting literature deals with examining the ability of macroeconomic indicators to predict … the mean of future inflation, and the overwhelming evidence suggests that the macroeconomic indicators provide little or … no predictability. In this paper, we expand the scope of inflation predictability and explore whether macroeconomic …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

for the impact of real (output growth) and nominal (inflation) macroeconomic uncertainty on inflation and output growth … expectations, inflation uncertainty in several cases improves the output growth performance of an economy implying that the focus … of European monetary policy strategy on stabilising inflation rather than output growth may be misplaced. Third …