devaluations within the context of a surge in inflation and a fall and subsequent recovery of real labor income. To better …

The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …

We study the role of war bonds and inflation in the presidential elections of the 1950s. During World War II, the … promotion of savings bonds made Americans more sensitive to the high inflation that prevailed after the war, contributing to …

realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …

monopolistically competitive pricing, higher-order expectations are crucial for aggregate inflation dynamics, as argued by Phelps (1983 … disturbance, and a delayed effect on inflation, as found in VAR studies …