model does a good job of accounting for the joint behavior of labor and goods markets, as well as inflation, during the … capital played critical roles in accounting for the small size of the drop in inflation that occurred during the Great …

trend inflation during Volcker's mandate was a key factor behind the Great Moderation. We revisit this finding with an … estimated New-Keynesian model with trend inflation and no indexation based on Christiano, Eichenbaum and Evans (2005). First …, our simulations confirm Coibion and Gorodnichenko's (2011) main finding. Second, we show that a trend inflation …

to maintain reputation outweighs the short-run incentive to close consumption and inflation gaps, keeping the central …

This paper uses the historical narrative record to determine whether inflation expectations shifted during the second … and the forecasts of contemporary business analysts, we show that inflation expectations increased dramatically. Second …, using an event-studies approach, we identify the impact on financial markets of the key events that shifted inflation …

strengthen the countercyclical behavior of markups and attenuate the response of inflation to fluctuations in output. …