Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that …-varying mean leads to the reversal of this result and suggests similar or lower inflation persistence for the NMS compared to euro … persistence may not be as different between the two country groups as one might expect. We confirm that one should work carefully …

Ever since the end of the Great Recession, the U.S. economy has experienced a period of mild inflation, which … contradicts with the output-inflation relationship depicted by a traditional Phillips curve. This paper examines how the permanent … output loss during the Great Recession has affected the ability of the Phillips curve to explain U.S. inflation dynamics. We …

We estimate an empirical model of inflation that exploits a Phillips curve relationship between a measure of … unemployment and a subaggregate measure of inflation (services). We generate an aggregate inflation forecast from forecasts of the … statistics for models that exploit relationships between services inflation and the unemployment rate. In addition, models of …

This study investigates asymmetry in the impact of domestic inflation drivers in the Baltic States, focusing on the … affect the inflation rate by employing a nonlinear autoregressive distributed lag approach (NARDL) and the Phillips curve …. Empirical results demonstrate the long-run asymmetry as inflation in Estonia and Lithuania responds more significantly to …

This paper carries out another evaluation on a highly debated property of inflation dynamics, namely its persistence … remarkably low end-of-sample estimates for inflation persistence …. We study inflation dynamics for the United States since 1959 with a time-varying methodology where the intercept …

We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …

as an Okun Law type relationship; and the New Phillips curve linking inflation to output gap. We estimated two models …. The estimation results proved that the Phillips curve is not very different. It can be observed that the forward …

evidence supporting both hypotheses. Additionally, our empirical analysis allows us to estimate inflation persistence and … identify the locations of structural breaks in inflation. We find that inflation in Bangladesh exhibits high persistence … 2007 and April 2012. Moreover, Bangladesh’s inflation persistence is comparable to, and at times even lower than, that of …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

Historians have suggested there were waves of inflation or price revolutions in the UK (and earlier England) in the 13 …th, 16th, and 18th centuries, prior to the ongoing inflation since 1914. We study retail price inflation since 1251 and … volatility. The long-horizon forecasts suggest only one inflation wave, that of the 20th century. We also use the model to …