chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. We also …

This paper examines inflation dynamics in the Unites States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960- 2007 are used to predict inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …

current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model … correction terms, and indirectly of income distribution, in the dynamics of wage and price inflation in the U.S. and the euro … Autoren auf der Basis von hochaggregierten Zeitreihen für die USA und den Euroraum strukturelle Parameterschätzwerte. Diese …

sticky-price version of the New Keynesian Phillips Curve does a good job of approximating US inflation dynamics. However … to the entire underlying model of the NKPC. Thus I conclude that the NKPC fails to give a sound explanation of inflation …

Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …

. In particular, the consequences of inflation having discrete breaks in mean, for example caused by supply shocks and the … dynamic inflation terms of the Phillips curve. We suggest a method to account for the breaks in mean and obtain meaningful and … from more traditional approaches, most recently undertaken by Cogley and Sbordone (2008). -- Phillips curve ; inflation …

This paper examines inflation dynamics in the Unites States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960- 2007 are used to predict inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …

We propose a noncausal autoregressive model with time-varying parameters, and apply it to U.S. postwar inflation. The … model .fits the data well, and the results suggest that inflation persistence follows from future expectations. Persistence … curve indicate that current inflation also depends on past inflation although future expectations dominate. The implied …

This paper studies the effect of competitive pressures on inflation dynamics. To this end it derives and estimates a … their market power. By taking into account the number of competitors, the pass-through of real marginal cost on inflation is … of real marginal cost on inflation is stronger than that found in the empirical test of the standard model. The estimated …