the observed time series. We develop a simulated maximum likelihood estimation method based on importance sampling and … applied to quarterly and monthly US inflation in an empirical study. We find that the persistence of quarterly inflation has … and density forecasts for monthly US inflation …

inflation, output, and long-term interest rates, central banks in small open economies face peculiar challenges in their …

This study was carried out to estimate underlying inflation in Nigeria using Unobserved Component (UC) model. Also …. Therefore, unobserved component model with MA is more appropriate in modeling inflation persistence in Nigeria which is …, different channels were used to identify the source of inflation persistence and volatility. This was estimated using Bayesian …

n this study, we examine the evolution of the Central Bank of Nigeria's (CBN) reaction function since the adoption of … inflation and output stabilisation mandates of the CBN. The study also finds that inclusion of more instruments in the CBN … therefore emphasises the difficulty of the CBN to effectively manage inflation and output stabilisation simultaneously, which …

The Phillips curve is central to discussions of inflation dynamics and monetary policy. In particular, the New … Keynesian Phillips Curve is a valuable tool to describe how past inflation, expected future inflation, and real marginal cost or … an output gap drive the current inflation rate. However, economists have had difficulty applying the New Keynesian …