. The representative agent's forecast rule is optimal, conditional on a perceived law of motion for inflation and observed … moments of the inflation time series. The perceived law of motion allows for both temporary and permanent shocks, the latter … intended to capture the possibility of evolving shifts in the central bank's inflation target. In this case, the agent …

-term inflation is derived from the dynamic stochastic general equilibrium (DSGE) model with state-dependent pricing originally … on Calvo-type price-setting as a special case. It describes current inflation as a function of lagged inflation, expected … future inflation, and current and expected future real marginal costs. The paper demonstrates that inflation dynamics …

of vacancies in the data. A further interesting finding is that inflation via the Phillips curve is not only driven by an …

majority of economists seems to agree that an inverse relationship between inflation and unemployment holds as long as changes … recurrent unemployment and inflation. …

contribute much to aggregate fluctuations. Capital gains taxes are important when there are persistent changes in the inflation … rate. Money growth shocks do not cause persistence changes in inflation when the central bank uses a money growth rule … inflation, raising both the nominal value of capital and the effective marginal capital gains tax rate. …

series models of U.S. unemployment and inflation. Because the null hypothesis that the coefficients are in fact constant lies …