further increases in economic slack have little effect on inflation. This finding is consistent with evidence of downward …

economic slack as opposed to normal times. Using quarterly historical data and local projections, we estimate a cumulative one …:7 during normal times. While we find positive employment effects in economic slack as in uncertain times, two transmission …

economic slack as opposed to normal times. Using quarterly historical data and local projections, we estimate a cumulative one …:7 during normal times. While we find positive employment effects in economic slack as in uncertain times, two transmission …

nonlinear when inflation is low, in which case excess economic slack has little effect on inflation. This finding is consistent …

inflation expectations and augment Phillips curves with global factors including global economic slack, global inflation and … commodity prices. Our results provide little support for the existence of direct effects of global economic slack on domestic …