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

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative … relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …

We evaluate the monetary determinants of inflation in the Czech Republic, Hungary, Poland and Slovakia by using the … McCallum rule for money supply. The deviation of actual money growth from the rule is included in the estimation of Phillips … excessive monetary growth on inflation is mixed: It is positive for Poland and Slovakia, but negative for the Czech Republic and …

In this paper we introduce and test the hypothesis that the relation between inflation and unemployment has been in … 1975 and 1980 after the first (or the second) oil price shock in autumn 1973. During the disinflation period, inflation and … their favour and the Central Bank fighting against inflation. Since the wage and price setters did not fully believe in an …