type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …

inflation and rising inflation expectations for years to come. We show that these concerns have been overstated. A $100 oil … scenario of the type discussed by many observers, would only briefly raise monthly headline inflation, before fading rather … quickly. However, the short-run effects on headline inflation would be sizable. For example, on a year-over-year basis …

considerably stronger relative to the impact on GDP since the mid-1980s, while the effects on inflation have become weaker …