unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …

The Paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output … the income velocity of money that can break the otherwise stable relation between money, inflation, and output growth … growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

at containing inflation and the deviation of output from potential within pre-specified bounds. We develop formal tools … this loss function under weak assumptions may be estimated from realizations for inflation and output gap data even in the … parameters with respect to the inflation and output objectives during the Greenspan period. We formally test for and reject the …

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because … indexed to inflation and, as a result, their investment is more sensitive to nominal price shocks. We also find that the … inflation uncertainty are less vulnerable to a price shock of a given magnitude. The micro predictions of the model are tested …

looking pricing account for the observed persistence in aggregate inflation. Second, price-setting responds to movements in … marginal costs, which should therefore be the driving force to observed inflation dynamics. This is not always the case in …) inflation, and underestimating the importance of (aggregate) marginal costs for (aggregate) inflation. We provide intuition for …

, inflation and exchange rates. Our innovative technique measures trade openness encompassing both observable trade policy … and surcharges, are included in a model of wholesale price inflation in South Africa. The evidence suggests that increased … openness has significantly reduced the mean inflation rate and has reduced the exchange rate pass-through into wholesale prices. …

Inflation is a far from homogeneous phenomenon, a fact often neglected in modelling consumer price inflation. This … study, the first of its kind for an emerging market country, investigates gains to inflation forecast accuracy by …

Inflation targeting central banks will be hampered without good models to assist them to be forward-looking. Many … current inflation models fail to forecast turning points adequately, because they miss key underlying long-run influences. The … world is on the cusp of a dramatic turning point in inflation. If inflation falls rapidly, such models can underestimate the …

Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. We … explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the … coefficients in an autoregressive model for inflation, using a median unbiased estimator and bootstrapped confidence bands. We find …