inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

In this study, we provide a comprehensive estimation of the contemporary Phillips curve relationship in the South …/tightness and inflation expectations, contributing to the debate on the relevance of the Phillips curve in South Africa, where … previous findings have been inconclusive. Our analysis reveals that long-run inflation expectations are the primary driver of …

This paper studies the importance of money for inflation in the euro area. An inflation …

The present paper uses survey data on expected consumer price developments to analyse the role of inflation … expectations in the inflation process. The survey measures of price expectations are derived from the European Commission … estimates of the New Keynesian inflation model presented here underscore the importance of inflation expectations for the short …

Firmly-anchored inflation expectations are widely viewed as playing a central role in the successful conduct of … monetary policy. This paper presents estimates of trend inflation, based on information contained in survey expectations, the … term structure of interest rates, and realized inflation rates. My application combines a variety of data sources at the …

. This paper continues this strand of research by examining the role survey expectations play in the inflation process and … reports three principal findings. One, short-run inflation expectations appear to play a significant role in explaining U ….S. inflation over the past 20-25 years. Two, long-run expectations generally do not appear to have a direct influence on U …

This paper formalizes the process of updating the nowcast and forecast on out-put and inflation as new releases of data … Philadelphia surveys have a large marginal impact on the nowcast of both inflation variables and real variables and this effect is … sizeable. Prices and quantities affect the precision of the estimates of inflation while GDP is only affected by real variables …

A strand of theoretical and empirical evidence in the literature suggests non-linearity in the output-inflation … relationship, viz. a non-linear Phillips curve. We develop a VAR model of output, inflation, and terms of trade augmented with … data. Output costs of reducing inflation vary, depending on the economy, size of inflation change, and whether policy …