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

involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …

exchange rates have a modest effect on domestic price inflation while import prices have a stronger effect. Pass-through is …

The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate … identify variables other than productivity - namely consumption and labor compensation - to help estimate trend productivity … direction. In addition, we find that productivity data alone provide insufficient evidence of regime changes; corroborating …