This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal … redistribution brought about by a moderate inflation episode. Redistribution takes the form of 'ends-against-the-middle': the middle … class gains at the cost of the rich and poor. In addition, inflation favours the young over the old, and hurts foreigners. A …

-2001 had an important impact on inflation divergence within the EMU and in particular the surge in Ireland’s inflation to over … contribute to inflation convergence and in particular to a fall in Irish inflation? Fortunately for us, the theory has passed the … test with flying colours. Irish inflation stopped dead in its tracks: consumer prices were unchanged between May and …

We set out a reference chronology for annual UK inflation, identifying nine complete cycles between 1958 and 1990 …. Inflation over this period is asymmetric, falling more quickly than it rises. Leading indicators are also proposed, with …, they give clear prior turning point information with relatively few `false signals'. Nevertheless, we find that inflation …

We develop and estimate a structural model of inflation that allows for a fraction of firms that use a backward looking … measures of marginal cost as the relevant determinant of inflation, as the theory suggests, instead of an ad-hoc output gap …. Real marginal costs are a significant and quantitatively important determinant of inflation. Backward looking price setting …

The Paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output … growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human … the income velocity of money that can break the otherwise stable relation between money, inflation, and output growth …

at containing inflation and the deviation of output from potential within pre-specified bounds. We develop formal tools … this loss function under weak assumptions may be estimated from realizations for inflation and output gap data even in the … parameters with respect to the inflation and output objectives during the Greenspan period. We formally test for and reject the …

indicator and forecasting properties of the real interest rate gap for inflation, both in the model and in the data. Our results … suggest that the real interest rate gap has value as an inflation indicator, supporting the ‘neo-Wicksellian framework …

channel through which monetary policy lowers the volatility of inflation and, even more importantly, output. …