The aim of the article is to clarify the controversies surrounding the relationship between inflation and unemployment … also an increase in inflation. The article, therefore, hypothesises that the relationships between unemployment and … inflation in the countries studied during the above period were unidirectional. To verify this hypothesis, two basic research …

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated … unconditional moments of inflation dynamics better while sticky information is more successful in matching co-movement of inflation …

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated … unconditional moments of inflation dynamics better while sticky information is more successful in matching co-movement of inflation …

Analysis of monthly disaggregated data from 1978 to 2016 on US household inflation expectations reveals that exposure … to news on inflation and monetary policy helps to explain inflation expectations. This remains true when controlling for … interest rates and unemployment, and their sentiment levels. We find evidence of an asymmetric impact of news on inflation …

-term inflation target to help anchor expectations. This paper aims to document how much the release of the forecasts of one major … central bank, the Bank of Japan (BOJ), has influenced private sector expectations of inflation, and whether the degree of … influence depends to any degree on the adoption of an inflation target (IT). Consistent with earlier studies, we find the …

This study examines the dynamic relationship between monthly inflation and inflation uncertainty in Japan, the US and … autoregressive conditional heteroskedasticity (GARCH) model to generate a measure of inflation uncertainty, the empirical evidence … from both the linear vector autoregressive (VAR) and nonparametric regression models show that higher inflation rates lead …

Many central banks release inflation forecasts to reduce uncertainty; at the same time, an increasing number rely on a … publicly stated medium-term inflation target to help anchor expectations. We examine how the adoption of an inflation target … (IT) by a major central bank, the Bank of Japan (BOJ), influenced the impact of its inflation forecasts on private sector …