changes provide information on the adjustments and persistence of aggregate price conditions in the Philippines. It takes into … account the changes that occurred in relative price movements between the pre-inflation targeting (ie 1994–2001) and inflation … their distribution are positively related to movements in short-run inflation. Moreover, price adjustments are observed to …

This paper characterizes the optimal inflation buffer consistent with a zero lower bound on nominal interest rates in a … New Keynesian sticky-price model. It is shown that a purely forward-looking version of the model that abstracts from … inflation inertia would significantly underestimate the inflation buffer. If the central bank follows the prescriptions of a …

) changes and short-run inflation (π) for the Philippines between 1994 and 2019. The authors follow the approach of Ball and … implications for inflation. The presence of higher-order moments leads to asymmetric price adjustments in response to shocks … inflation in the Philippines, particularly in the food and oil sectors, and are likely to become more prevalent in the face of …