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

-traded-goods inflation, since prices are found to be more sticky in this production sector, but those gains come at the cost of substantially … estimated model for the Canadian economy, with a strict inflation-targeting rule where the central bank reacts to the next … period's expected deviation from the inflation target and does not target the output gap. …

. Compared to the historical inflation targeting rule, an optimal price level targeting regime substantially reduces the welfare … also better than the optimal inflation targeting rule in minimizing the distortion generated by the presence of nominal …

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

they help explain the "Great Inflation" of the 1970s and early 1980s. …

inflation. The analysis extends Elwood’s (1998) framework by incorporating in the model an inflation-threshold process that can …, depending on the level of inflation: negative shocks are more detrimental when inflation is high, and positive shocks are more … persistent when inflation is low. …