investment can help hedge against inflation in the United States (US) and Canada. This study employed an autoregressive … distributed lag (ARDL) cointegration test developed by Pesaran, Shin, and Smith (2001), and finds evidence of a positive long … against inflation in the United States and Canada. …

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 …

findings reveal that the impulse response of inflation to the changes in the unemployment rate gap has reduced over time till … 2010 and strengthened thereafter. The response of inflation to the changes in the unemployment rate gap has increased in … participation in theglobal value chain have reduced the inflation response to the changes in the unemployment rate gap. …

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 …

A strand of theoretical and empirical evidence in the literature suggests non-linearity in the output-inflation … relationship, viz. a non-linear Phillips curve. We develop a VAR model of output, inflation, and terms of trade augmented with … data. Output costs of reducing inflation vary, depending on the economy, size of inflation change, and whether policy …

This paper uses fractional integration and cointegration in order to model the DM/dollar and the yen/dollar real …. -- fractional integration ; fractional cointegration ; real exchange rates …

following the classical approach based on I(0) stationarity or I(1) cointegrating relationships, we use fractional integration/cointegration … three variables are I(1). But we only find cointegration in the presence of autocorrelated disturbances, which means that … opposed to classical cointegration, which implies long memory and slow reversion to equilibrium. This suggests that an …