at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates … uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living …This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It …

inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

The purpose ot this study is to test the hypothesis that inflation uncertainty increases at higher levels of inflation … conditional variance of the error term to be time-varying. Since this variance is a proxy for inflation uncertainty, a positive … relationship between the conditional variance and inflation would be interpreted as evidence that inflation uncertainty increases …

This paper examines the performance of M1 in an indicator model of inflation over time horizons as long as 16 quarters … the deviations of M1 from its long-run path provide "distant-early-warning" information about the future path of inflation. …

A vector error-correction Model (VECM) that Forecasts inflation between the current quarter and eight quarters ahead is … found to privide significant leading information about inflation. The model focusses on th effects of deviations of M1 from … output gap and past prices. …

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because … nominal prices are observed with delay as in Jovanovic & Ueda (1997). More constrained firms sign contracts that are less …

Curves hold promise empirically and provide interesting research directions. -- Inflation and prices ; Labour markets …Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the … and inflation in the New Keynesian Phillips curve. From a methodological perspective, these results derive from our …

Rising consumer prices may reflect shifts by consumers to new higher-priced products, mostly for durable and semi … to estimate how price increases can be divided between quality growth and price inflation. I find that less than one … inflation close to inflation measured by the official index. I conclude that, according to Bils’ methodology, the quality bias …

expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal … be used to extract useful measures of inflation persistence. This paper presents a new measure of U.S. inflation … persistence from the point of view of a professional forecaster, referred to as perceived inflation persistence. It is built via …

Inflation dynamics in advanced countries have produced two consecutive puzzles during the years after the global … financial crisis. The first puzzle emerged when inflation rates over the period 2009-11 were consistently higher than expected … today - was initially observed in 2012, when inflation rates in advanced countries were weakening rapidly despite the …