price model a 'weak' central bank response to inflation generates sunspot fluctuations, the consequences of pooling … of inflation persistence had not been investigated. Using Monte Carlo simulations from a purely forward-looking model …, this paper shows that indeterminacy can introduce a sizable persistence in the process of inflation. On the reduced form …

Brazil has experienced crucial changes in its inflation process since the adoption of inflation targeting in mid 1999 …. This article addresses changes in the analytical framework employed to track the inflation dynamics, specifically the … relevance of an explicit target for inflation. A New-Keynesian Phillips curve (NKPC) is derived incorporating indexation not …

outlook for inflation. He argues that the low rate of price inflation is not just a UK phenomenon, and reflects structural … factors such as globalisation, new technology, deregulation and changes in the labour market. He concludes that inflation …

of a forecast breakdown in the Phillips’ curve forecasts of U.S. inflation, and links it to inflation volatility and to …

-mean autoregressive model can be used to describe characteristic features in inflation series. This implies that we decompose the … inflation process into a slowly moving nonstationary component and dynamic short-run fluctuations around it. An important … quantity to be forecast. This makes it possible to form a single model-based inflation forecast that also incorporates the …