, control of inflation and control over the growth of national wealth, and a third outcome of importance, a high level of …). The assignment problem considers whether fiscal policy should be used to control inflation, leaving monetary policy to …

new conventional wisdom concerning the fiscal roots of inflation and the budgetary prerequisites for generating and … yields ambiguous predictions concerning the response of inflation to an increase in the fundamental deficit. In addition the … omission of government bonds and borrowing in his analysis. There is not yet any "deep structural" theory justifying the …

natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …

Cross-country evidence on inflation and inequality suggests that they are positively correlated. I explore the …

inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

This paper estimates the NAIRU (standing for the Non-Accelerating Inflation Rate of Unemployment) as a parameter that … varies over time. The NAIRU is the unemployment rate that is consistent with a constant rate of inflation. Its value is … determined in an econometric model in which the inflation rate depends on its own past values (‘inertia’), demand shocks proxied …

Import competition from China is pervasive in the sense that for many good categories, the competitive environment that … pronounced increase of aggregate US producer price inflation. …

We use evidence from the term structure of inflation expectations implicit in the nominal yields and survey forecasts … of inflation to address the question of whether or not monetary policy is effective. We construct a model that …-neutral, subjective, and objective probability measures. We extract private sector expectations of inflation from this model and establish …