bank response to inflation. These sub-samples correspond to the pre-Volcker period for the US and the pre-inflation … equilibria arise. In contrast, the DSGE model never generates on impact a positive inflation response to a policy shock. The … omission in the VARs of a variable capturing the high persistence of expected inflation under indeterminacy is found to account …

equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …

economies of the G7 countries. We first prove that nominal interest and inflation rate can be better represented as being broken …