This paper examines the question of how conventional understanding of inflation relates to stickiness. Several results …

are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and … energy prices have been the main disinflationary driver. But low core inflation in the euro area has also had a clear and …

in early 2021. Central banks seem heedless of the inflation risks inherent in monetary financing of the growing …, which relates trends in money growth to changes in inflation and nominal GDP over the medium and long terms. A condition for … the return of inflation to current target levels is that the rate of money growth is reduced back towards annual rates of …

and inflation. The model (which we subsequently refer to as BHP) is designed to explain medium term cyclical growth in a …

"harmful inflation" regime for higher nominal GDP growth rates, these results have strong implications for guiding recent …

precautionary saving is strong enough, a rise in uncertainty leads to i) a drop in inflation; ii) amplified negative responses of …

This paper contrasts empirically four leading models of inflation dynamics - the accelerationist Phillips curve (APC …

Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during … the period under review. Food inflation, energy inflation, firms’ marginal cost, and imported inflation account for most … exchange rate solely explains price changes in the composite consumers’ basket when inflation switches to high regime …

A regime shift towards increased inflation expectations is credited with jumpstarting the recovery from the Great … Depression in the United States. Germany experienced a recovery as fast and strong in the 1930s. What role did inflation … expectations play at the start of this remarkable economic upturn? To answer this question, we study inflation expectations in …