explicitly related to the trend of labour force productivity and of the participation rate. These two variables have been … of labour force productivity and the participation rate. Furthermore, since 1995, the growth rate of potential GDP has … been clearly above its historical average because of an increase in the trend of productivity and, to a lesser degree, in …

This paper analyzes the short-run dynamic process of inflation in Canada and examines whether a systematic variation in … the relationship between inflation and output can be detected over time. In the theoretical literature, different models …

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 …

target. The Phillips curve is specified in terms of the output gap and takes the effects of productivity on inflation into … current characteristics of the U.S. economy (notably the productivity boom) and to endogenize interest rates. Third, it tries … notion of credibility of monetary policy through expectations of inflation. The USM features a Phillips curve, an IS curve …

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. …

This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It … 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 …