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. …

Inflation persistence or ‘inertia’ has important consequences for monetary policy. Inflation which does not get … influence on inflation persistence by its credibility and responses in the face of inflationary shocks. In this study, we use a … flexible, time-varying parameter approach to analyze inflation persistence in the United Kingdom and United States during 1880 …

a permanent reduction in inflation. We derive estimates of the sacrifice ratio from three structural VAR models and then …

This paper conducts a structural analysis of inflation persistence in the United Kingdom between 1965-2009. I allow for … and stochastic shock volatility. The first policy regime responds passively to movements in inflation, adjusting the … other regime responds actively to inflation and places less weight on exchange rate movements. This regime is present for …

In this paper we study 2-state Markov switching VAR models of monthly unemployment and inflation for three countries …: Sweden, United Kingdom, and the United States. The primary purpose is to examine if periods of low inflation are associated … variance in unemployment. In the U.S. case we find that the variance of unemployment is lower in the low inflation regime than …

This paper develops an open-economy Bayesian structural VAR model for Canada in order to estimate the effects of …

, output growth resumed but inflation remained low. Consequently, the Czech National Bank did not return policy to normal for …, suggesting limited potential effects of the exchange rate commitment on inflation. On the other hand, the pass-through to output … exchange rate commitment on inflation expectations when not paired with temporary price-level targeting. Moreover, we highlight …