Ha sido publicado el último número de la revista Economía Volume 45 Issue 89 (2022): Recent Developments in Inflation Dynamics

8/8/2022

After several decades of low and stable inflation rates in most parts of the globe, high inflation has reemerged once again to become probably one of the most pressing macroeconomic issues right now. By the time we are writing this introduction, the search interest for the term “inflation” has reached peak popularity worldwide according to Google Trends. Regardless of the factors behind these recent trends, explaining and forecasting inflation around the world have been two of the most important questions that have traditionally preoccupied academic researchers and policymakers in macroeconomics. And most likely, these two broad issues will continue to be at the top of the agenda even after finally the current bout of inflation subsides.

We are glad to introduce Volume 45 Number 89 of the Journal Economía dedicated precisely to these questions. This Special Issue 2022-1 is titled “Recent Developments in Inflation Dynamics”.

The issue contains new research presented in seven papers that study inflation dynamics from different angles and using novel techniques and diverse data samples. The content covers a wide range of topics ranging from the hypotheses that link inflation with other key macroeconomic indicators such as money growth, interest rates, and output gaps, to methodological issues related to the measure of the long-run component of inflation, to its forecasting and forecast evaluation under different contexts.

Presentation

Roberto Duncan, Enrique Martínez-García

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Articles

Some Long-Run Correlations of Inflation in Developed Countries

Kenneth D. West, Tu Cao

1-23

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Implications of Endogenous Money Growth for Some Tests of Superneutrality and the Fisher Effect

John W. Keating

24-51

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Low Inflation Bends the Phillips Curve around the World

Kristin J. Forbes, Joseph E. Gagnon, Christopher G. Collins

52-72

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Is it Time to Reassess the Focal Role of Core PCE Inflation in Assessing the Trend in PCE Inflation?

Randal Verbrugge 73-101

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Flexible Average Inflation Targeting: How Much Is U.S. Monetary Policy Changing?

Jarod Coulter, Roberto Duncan, Enrique Martínez-García

102-149

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A Power Booster Factor for Out-of-Sample Tests of Predictability

Pablo Pincheira Brown

150-183

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Searching for the Best Inflation Forecasters within an Employment Survey: Microdata Evidence from Chile

Carlos A. Medel

184-216

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