In this paper we evaluate the relative influence of external versus domestic inflation drivers in the 12 new European … well supported in the new EU member states. We also find that the inflation process is dominated by domestic variables in … Keynesian Phillips Curve ; small open economies ; inflation dynamics ; new EU member countries ; GMM estimation …

We incorporate adaptive learning-based inflation expectations in an Unobserved Components model in order to study the … link between inflation and the output gap. The forward-looking New Keynesian Phillips curve serves as the backbone for … modeling inflation dynamics. We find that learning based inflation forecasts not only shadow survey expectations in the pre …

The low rate of inflation observed in the U.S. over the entire past decade is hard to reconcile with traditional … the job explains this missing inflation. We derive this novel concept of slack from a model in which a drop in the on …

Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves … describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current … inflation rate. This paper studies the (potential) weak identification of these curves under GMM and traces this syndrome to a …

three inflation will increase (decrease) in the next quarter and three times out of five it will increase (decrease) the …

The low rate of inflation observed in the U.S. over the past decade is hard to reconcile with traditional measures of … labor market slack. We develop a theory-based indicator of interfirm wage competition that can explain the missing inflation …, raising inflation by around 1 percentage point during most of 2021. …

This paper analyzes relationships among money, barter, and inflation in Russia during the transition period. Following … economy, we estimate the model using structural cointegration and vector error-correction methods. Our findings suggest that … contributed to generating persistent inflation and output decline in Russia …