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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Changes in Inflation Dynamics under Inflation Targeting? Evidence from Central European Countries
 Baxa, Jaromír ; Plašil, Miroslav ; Vašíček, Bořek
The purpose of this paper is to provide a novel look at the evolution of inflation dynamics in selected Central European (CE) countries. We use the lens of the New Keynesian Phillips Curve (NKPC) nested within a time-varying framework. Exploiting a time-varying regression model with stochastic volatility estimated using Bayesian techniques, we analyze both the closed and open-economy version of the NKPC. The results point to significant differences between the inflation processes in three CE countries.
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