Showing 1 - 10 of 14
Persistent link: https://www.econbiz.de/10012100853
We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a broad panel of 35 countries and controlling for possibly non-linear exchange rate effects. We find that the output gap generally has a significant positive effect on inflation,...
Persistent link: https://www.econbiz.de/10012653311
Persistent link: https://www.econbiz.de/10012799294
This paper examines the drivers of CPI inflation through the lens of a simple, but computationally intensive machine learning technique. More specifically, it predicts inflation across 20 advanced countries between 2000 and 2021, relying on 1,000 regression trees that are constructed based on...
Persistent link: https://www.econbiz.de/10013313422
Persistent link: https://www.econbiz.de/10013470553
Persistent link: https://www.econbiz.de/10013448369
This article presents evidence based on a panel of 35 countries over the past 30 years that the Phillips’ curve relation holds for food inflation. That is, broader economic overheating does push up the food component of the CPI in a systematic way. Further, general inflation expectations from...
Persistent link: https://www.econbiz.de/10014264790
We provide novel systematic cross-country evidence that the link between domestic labour markets and CPI inflation has weakened considerably in advanced economies during recent decades. The central estimate is that the short-run pass-through from domestic labour cost changes to core CPI...
Persistent link: https://www.econbiz.de/10014078706
We provide novel systematic cross-country evidence that the link between domestic labour markets and CPI inflation has weakened considerably in advanced economies during recent decades. The central estimate is that the short-run pass-through from domestic labour cost changes to core CPI...
Persistent link: https://www.econbiz.de/10014080924
The pandemic had a significant effect on labour markets. Working hours fell sharply almost everywhere, but the drivers of these declines varied greatly across countries, depending on whether policies to protect worker-firm relationships were in place. Labour markets have bounced back faster than...
Persistent link: https://www.econbiz.de/10013323005