This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve … based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor …-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes … flatter as inflation declines. Second, macroeconomic volatility shifts the Phillips curve outward, implying that stabilization …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

Intro -- Contents -- I. INTRODUCTION -- II. THE NONACCELERATING INFLATION RATE OF FACTOR UTILIZATION -- III. FACTOR …

novel harmonized dataset of sectoral producer price inflation and input-output linkages for more than 1000 sectors in 53 … that pandemic lockdowns, and subsequent reopening policies, were the most dominant driver of global inflation in this …

This paper identifies and quantifies the drivers of inflation dynamics in the three Baltic economies and assesses the … effectiveness of fiscal policy in fighting inflation. It also analyzes the macroeconomic impact of inflation on competitiveness by … focusing on the relationship between wages and productivity in the tradeable sector. The results reveal that inflation in the …

As in the rest of the world, inflation in CEMAC surged more quickly and persistently than expected during the 2021 …-23 period. This paper examines the drivers of inflation dynamics and the contribution of global shocks to inflation persistence … role of global factors in driving inflation dynamics. Global commodity food and oil price fluctuations, and shipping costs …

We study the global inflation surge during the pandemic recovery and the implications for aggregate and sectoral … differences in the inflation response across sectors imply the relative price of goods has been pro-cyclical this time around … calibrated exercise shows that the resulting changes to the output-inflation relation are quantitatively important and improve …