hybrid target within a new Keynesian model with inflation persistence due to price indexation. The result generalizes a …

Time series estimates of inflation persistence incur an upward bias if shifts in the inflation target of the central … bank remain unaccounted for. Using a structural time series approach we measure different sorts of inflation persistence … framework based on importance sampling. We find that inflation persistence, expressed by the halflife of a shock, can range from …

phenomena. We also show that ignoring breaks in the mean of inflation clearly lead to overrate inflation persistence in standard …

mean break, both aggregate and sectoral inflation persistence are stable and low, with the unit root lying far in the tail … price changes (at the firm level) appears positively related with inflation persistence (at the aggregate level). …

This paper analyses the degree of price rigidity and of inflation persistence across different product categories with … inflation persistence, we find that, for most of the EU15 countries as well as for the EU15 and the euro area aggregates …, excluding services from the full HICP results in a reduction in the measured degree of inflation persistence; for regulated …

Time series estimates of inflation persistence incur an upward bias if shifts in the inflation target of the central … bank remain unaccounted for. Using a structural time series approach we measure different sorts of inflation persistence … framework based on importance sampling. We find that inflation persistence, expressed by the half-life of a shock, can range …

a TFP shock, generate marked inflation persistence. In contrast, an indirect tax and an oil price shock appear much less … persistent and a social security shock generates less inflation persistence in the majority of the countries (although some weak …