long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

consistent with the official monetary policy. Second, we seek to shed light on the inflation process of these countries. To this … end, we carry out an estimation of an open economy Philips curve (PC). Our main finding is that inflation rates were not … monetary arrangements for price stability. The analysis of the conditional inflation variance obtained from GARCH estimation of …

between inflation and aggregate output. This study endeavors to advance previous studies in three ways. First, the literature …. These include the stock (and flow) of government debt, the issuance of inflation-indexed bonds, and the existence of … explicit inflation targets. Second, previous studies unfortunately exclude non-OECD countries. Third, the literature is divided …

This paper estimates a New Keynesian model with trend inflation and contrasts Taylor rules featuring fixed versus time …-varying inflation target while allowing for passive monetary policy. The estimation is conducted over the Great Inflation and the Great … Moderation periods. Time-varying inflation target empirically fits better and active monetary policy prevails in both periods …

Inflation rates rose sharply in the Philippines during 2018. Understanding the demand and supply sources of inflation … pressures is key to monetary policy response. Qualitatively, indicators have pointed to evidence of inflation pressures from …-structural model to decompose the contributions of various shocks to inflation. Our main findings are (1) supply factors (mainly global …

inflation, we examine models of inflation that do and do not use the output gap. The Phillips curve, which relates inflation to … real activity, is regarded as the maintained theory of inflation. Models of inflation without the output gap include the … paper examines ten different models of inflation and estimates sixty-seven different specifications, some of which …

This paper extends the Svensson inflation forecast targeting framework with a convex Phillips curve. An asymmetric …

We analyze the optimal window length in the average inflation targeting rule within a Behavioral THANK model of Pfäuti … effects of uncertainty about hitting the ELB in the future, leading to a downward inflation bias in the case of the global …

Online appendix to the article "Average Inflation Targeting in a Behavioral Heterogeneous Agent New Keynesian Model …

We analyze the optimal window length in the average inflation targeting rule within a Behavioral THANK model. The …