This paper analyzes trend and cycle movements of Hong Kong inflation. The empirical model is an unobserved components … model that is consistent with the New Keynesian Phillips curve and is estimated using Hong Kong, U.S., and China inflation … and output data. The model decomposes Hong Kong inflation into a stochastic trend and a stationary cycle component that is …

the countries in the region. Fourth, the estimated output gaps did not have any explanatory power on domestic inflation …

In this paper, we estimate trend inflation in Sweden using an unobserved components stochastic volatility model. Using … data from 1995Q4 to 2021Q4 and Bayesian estimation methods, we find that trend inflation has been well-anchored during the … period - although in general at a level below the inflation target - and it does not appear to have been affected much by the …