principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of … monetary inflation. The proposed measure is characterised by all the properties that an u0093idealu0094 core inflation process …

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

We apply both classical and Bayesian econometric methods to characterize the dynamic behavior of inflation for twelve … 1990s. Allowing for a break in intercept, the inflation measures generally exhibit relatively low inflation persistence …. Evidently, high inflation persistence is not an inherent characteristic of industrial economies. …

theoretical predictions and simulations are corroborated when forecasting aggregate US inflation pre- and post 1984 using …

the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

This paper addresses some issues concerning the definition and measurement of inflation persistence in the context of … assumption for the long run level of inflation and that such long run level should be allowed to vary through time. Second, a non …-parametric measure of persistence is suggested which explores the relation between persistence and mean reversion. Third, inflation …