We show that the New Keynesian Phillips Curve (NKPC) outperforms standard bench marks in forecasting U.S. inflation … predictors) into several frequency bands and forecasting separately each frequency component of inflation. The largest … statistically significant forecasting gains are achieved with a model that forecasts the lowest frequency component of inflation …

; (iv) newer generation Phillips curve models with several time-varying features are a promising avenue for forecasting …

-series univariate and standard Phillips curve forecasting models. Our results indicate notable improvements in forecasting accuracy …

We show that the New Keynesian Phillips Curve (NKPC) outperforms standard benchmarks in forecasting U.S. inflation once …) into several frequency bands and forecasting separately each frequency component of inflation. The largest statistically … significant forecasting gains are achieved with a model that forecasts the lowest frequency component of inflation (corresponding …

utilization and temporary shocks, around a trend influenced by inflation expectations. We study the in-sample inflation dynamics …-sample, while inflation expectations dominate medium-to-long-run cycles, energy prices dominate short cycles and business …-to-medium cycles once expectations became anchored. While statistically significant, unemployment is not economically relevant for any …

categories react to the output gap. According to our expectations the categories which are mostly linked to the output gap are …

This paper studies the forecasting ability of various Phillips curve specifications in a pseudo out-of-sample exercise … was under the inflation targeting regime or not. Univariate forecasting models perform well for the fixed exchange rate …

forecasting results to results from Monte Carlo simulations of DGPs that either assume stability or allow breaks in the DGP. This …

emerging market country by taking Turkey as a case. For this purpose we compare the forecasting performance of Phillips curve …