. -- Great inflation ; passive policy ; break tests ; vector autoregressions …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

We develop a method of quantifying the uncertainty surrounding the estimates of the fundamental inflation implied by … the New Keynesian Phillips Curve (NKPC). The uncertainty is represented as a band around the fundamental inflation, and … a projection of real marginal costs. An empirical application on UK and US data confirms that fundamental inflation …

We use a Bayesian time-varying parameters structural VAR with stochastic volatility for GDP deflator inflation, real … Inflation was due, to a dominant extent, to large demand non-policy shocks, and to a lesser extent–especially in 1973 and 1979 … difference in terms of inflation and output growth outcomes; and (3)mechanically ‘bringing the Monetary Policy Committee vback in …

advantages of structural analysis and use the models for interpreting the recent development of the inflation rate using …