. Fourth, firms are found to keep their product prices unchanged unless there are large changes in costs, demand or inflation … reduced impacts on inflation. When the frequency of price adjustments increases, the effects of monetary policy are analyzed …

because unemployment growth contains information on not only output gap, but also price inflation and wage inflation which are … useful feedback variable together with inflation and output variables …

English Abstract: This paper attempts to investigate the Korean households’ inflation expectations with particular … rigidity in Korean households’ inflation expectations is very high. In a month, most of the households simply keep their … inflation expectations the same as before instead of updating them based on newly arrived information. Furthermore, when …

forecasting CPI inflation over the last 10 years (2002Q1-2011Q4). As for the alternative indicators, we select a few concepts of … headline CPI rather than core CPI, and the indicators forecast inflation jointly rather than individually. The better … performance of the alternative indicators is mainly due to their leading correlation with inflation and real activity as well as …

English Abstract:This study empirically estimates how much FTAs affect domestic inflation rates. Most previous studies … is an econometric estimation of the price stabilization due to FTAs and an analysis of how FTAs affect inflation rates … the weighted price index, we find that FTAs reduce the CPI inflation rate by 0.76%p at an annual basis from the second …

English Abstract: This paper analyzes the impact of foreign capital inflow on inflation, centering on the exchange rate … prices due to the won's appreciation, consequently causing the downward pressure on inflation. Meanwhile, the effect of total … demand leads to the upward pressure on inflation since foreign capital inflow encourages private consumption and investment …

(ii) is redistributive in favor of the (borrowing-constrained) poor, by targeting an inflation measure that overweighs the …

English Abstract: This study examines the influence of global and country factors on inflation movements in Korea using … a multilevel factor model. Our results indicate that global factors were significant drivers of inflation in Korea … during the high inflation era of the 1970s, as well as in recent periods following the COVID-19 pandemic. On the other hand …