The authors conduct an empirical analysis of the role of labor market activities in inflation and conclude that wage … growth is not very informative for predicting price inflation. But price inflation does seem to help predict wage growth …

This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook …. Our NKPC specification, that relies on market- and survey-based inflation expectations, explains well euro area inflation … long-horizons. Overall, the NKPC is a useful tool for monitoring euro area inflation outlook. Thanks to its fast and light …

-term inflation and unemployment forecast: the GDP deflator will be negative (between -0.5% and -2% per year) during the next 40 years …The evolution of the rate of price inflation and unemployment in Japan has been modeled within the Phillips curve … unemployment results in decreasing inflation. A linear and lagged generalized Phillips curve expressed as a link between inflation …

breaks in the performance of most simple Phillips curves. Euro area inflation was particularly hard to forecast in the run … in a forecaster's toolkit. We base these conclusions on an extensive forecast evaluation over 1994 - 2018, an … practitioners, we find that: (i) the key type of time variation to consider is an inflation trend; (ii) a simple filter-based output …

and forecast inflation out-of-sample by analyzing a New Keynesian Phillips Curve (NKPC) in the frequency domain. In …Policymakers and researchers see inflation characterized by cyclical fluctuations driven by changes in resource … utilization and temporary shocks, around a trend influenced by inflation expectations. We study the in-sample inflation dynamics …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

desired policy goals. This paper develops a group of models to forecast inflation in Argentina and conducts a comparison of …In general, central banks are concerned with keeping the inflation rate stable while also sustaining output close to an … efficient level. Under "inflation targeting", forecasts of the evolution of the general price level are an essential input for …

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. …

This paper revisits inflation forecasting using reduced-form Phillips curve forecasts, that is, inflation forecasts … inflation, a host of real-activity data, term structure data, nominal data, and surveys. In each individual specification, we … deflator inflation rates for the United States in the post-World War II period. Over the full 1960-2008 sample, the framework …