In this paper, we investigate empirically the relationship between inflation and inflation uncertainty in twelve EMU … countries. We estimate a time-varying parameter model with a GARCH specification for the conditional volatility of inflation in … links between inflation and inflation uncertainty. We find that steady-state inflation has generally remained stable (with …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

During the last years, a number of countries have adopted formal inflation targeting (IT) monetary policy frameworks in … a context of global inflation moderation. This paper studies inflation dynamics in eight Latin American countries, some … of which have adopted formal targets. We analyze possible benefits associated with IT in terms of lower inflation …

forecast output growth and inflation for the current calendar year and the next, implying that the forecast horizon changes …

developed to show how prices are affected by disagreement among investors in an intertemporal setting. …