"Why is inflation persistently high in some periods and low in others? The reason may be absence of commitment in … trigger strategies. In these traps, expectations of high or low inflation lead the public to take defensive actions, which … inflation rate is low on average. This analysis suggests that institutions which promote commitment can prevent high inflation …

"During the economic expansion of the 1990s, the United States enjoyed both low inflation rates and low levels of … growth, changes in inflation, and labor market slackness are the same for men and women and whether measures of 'non … do as well as men's in explaining real compensation growth and changes in inflation after 1983. We also find some …