increase according to trends in productivity and the target inflation rate of the central bank. Wage developments without …

achieved by maximization of utility subject to budget constraint. An increase in inflation that is not accompanied by … about inflation which in turn requires appropriate modelling of inflationary behavior. This study assesses efficacies of … different versions of new Keynesian Phillips curve for capturing dynamics of CPI inflation. Estimation of different formulations …

The post-pandemic surge in inflation was accompanied by a surge in the corporate share of profits. As a result, several … economists and policy makers have given to it names such as "profit-led inflation" or "sellers' inflation." The present paper … discusses the extent to which profit-led inflation, as an explanation for the recent surge in inflation, is compatible with what …

model indexation regulates the sources of inflation persistence. When indexation is zero, the inflation gap is purely … forward- looking and inflation persistence depends only on the level of trend inflation, while full indexation makes the … inflation gap persistent and it eliminates the effects of trend inflation. We show that in the former case the optimal policy is …

The correlation between persistent changes in the markup in one sector of an economy and the inflation rate is …. We find that the correlation is in general positive under an exogenous money growth rule as well as under an inflation … targeting rule. That is, a decrease of the markup leads to a decrease in the CPI-inflation rate. However, if inflation is …

reduced-form Phillips curve - the positive dependence of inflation on its own lags. In this paper, I show hat it is the 4 … price reset hazard function can generate simulated data that are consistent with inflation gap persistence found in US CPI … data. I conclude that a non-constant price reset hazard plays a crucial role for generating realistic inflation dynamics …

(SSSM) as a supporting tool for the monetary policy decision process. The SSSM's CPI inflation projections accuracy for 1 to … benchmark for short run forecasts. A 'near VAR' model, with quarterly CPI inflation and output gap as the endogenous variables …

inflation in the long run, is a necessary and (under some extra mild restrictions on parameters) sufficient condition for … determinacy in a sticky price model with positive steady-state inflation, interest rate smoothing in monetary policy, partial …

inflation in the long run, is a necessary and (under some extra mild restrictions on parameters) sufficient condition for … determinacy in a sticky price model with positive steady-state inflation, interest rate smoothing in monetary policy, partial …

relation to the recently completed Danish Price History Project. If one define price stability as an inflation rate around 2 … four decades following the end of the Second World War where inflation expectations lost their anchor. …