inflation. However, its definition and estimation raise a number of theoretical and empirical questions. This paper evaluates a … predicting inflation. We find that models including the output gap have better predictive power than models based on alternative …

inflation. Taking as given the paths of nominal labor compensation and labor productivity to approximate the evolution of …

pronounced increase of aggregate US producer price inflation. …

It is standard to model the output-inflation trade-off as a linear relationship with a time-invariant slope. We assess … why large negative output gaps in Japan during the period 1998-2002 did not lead to accelerating deflation, but instead … coincided with stable, be it moderately negative inflation. We document that this episode is most convincingly interpreted as …

, throughout the period of analysis, the U.S. (1980s and 2000s) and Japan (1970s and 2000s) have been the major transmitters of …

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. …

chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the … inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous …

group of respondents about their beliefs of the future rate of inflation during the coming 12 months. This type of data on … inflation during the coming 12 months. The analysis covers all EU member states that have relevant data. We examine the forecast … answering to the question on future inflation, they use the same forward looking horizon when answering to the question on past …