Empirical research on the degree and stability of inflation persistence in the US has produced mixed results: some …-WWII US inflation (monthly and quarterly) became highly persistent during the 'Great Inflation'period, and then switched back …

In this paper we develop and estimate a behavioral model of inflation dynamics with monopolistic competition, staggered … naive. Fundamentalists are forward-looking in the sense that they believe in a present-value relationship between inflation … forecast future inflation. Agents are allowed to switch between these different forecasting strategies conditional on their …

The welfare costs of inflation and inflation uncertainty are well documented in the literature and empirical evidence … inflation and inflation uncertainty in Egypt using monthly time series data during the period January 1974 - April 2015. To … endogenously control for any potential structural breaks in the inflation time series, Zivot and Andrews (2002) and Clemente …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

We study the dynamics of inflation persistence in 45 countries for the period 1960-2008. We use a nonparametric unit … inflation data, and a test for multiple changes in persistence, which decomposes the sample information between adjacent I(0 …) and I(1) periods. We find that (1) With very few exceptions, inflation around the world rejects a unit root, (2) for …

When monetary policy has an explicit inflation target, observed inflation should be a stationary process. In countries … where, for a variety of reasons, the determinants of inflation could lead it to follow a non-stationary process, the … adoption of an inflation targeting framework should therefore induce a fundamental change in the stochastic process governing …

Empirical research on the degree and stability of inflation persistence in the US has produced mixed results: some … since the early 1980s. We show that post-WWII US inflation (monthly and quarterly) became highly persistent during the …´Great Inflation´ period, and then switched back to a low persistence process during 1984, and has remained stationary until the …

This study examines whether central banks can combat inflation that is caused by rising energy prices. By using a high …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …