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"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 …
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A speech delivered on January 15, 2014, at the Corridor Economic Forecast Luncheon in Coralville, IA.
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Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Council on Foreign Relations New York, NY
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A speech delivered on February 4, 2014, at the Detroit Economic Club in Detroit, MI.
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Remarks for the Bank of Korea International Conference 2010, June 1, 2010 Seoul, Korea
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Remarks for the IL Wesleyan University Associates Business Luncheon, May 14, 2010 Bloomington, IN
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In this paper, we analyze the implications of price setting restrictions for the conduct of cyclical fiscal and monetary policy. We consider an environment with monopolistic competitive firms, a shopping time technology, prices set one period in advance, and government expenditures that must be...
Persistent link: https://www.econbiz.de/10005419923
, since they move real rates and expected inflation in opposite directions. Monetary policy shocks are the only macroeconomic …
Persistent link: https://www.econbiz.de/10005419944