Groß, Marco; Semmler, Willi - Task Force on Low Inflation (LIFT) - 2017
inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … area, based on a regime-switching Phillips curve and a regime-switching monetary structural VAR, employing different filter … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …