groups in the dispersion of household-specific rates of inflation. Using survey data on inflation expectations, I show that … demographic groups with greater dispersion in experienced inflation also disagree more about future inflation. I argue that these … results can be rationalized from the perspective of an imperfect information model in which idiosyncratic inflation experience …

potentially nonlinear effects of inflation on economic growth. We find that inflation is associated with significantly lower … effects of inflation on economic growth. We also document significant variation in the effect of inflation on growth across …

expected inflation. The inability of the Fed to maintain a credible commitment to low interest rates in the face of increased … government spending and rising inflation led to the Fed-Treasury Accord of March 1951. Following the Accord, the external …

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 …

these two markets with the regulatory environment for banks in Japan, with Japan's overall external financial position, as … environment in Japan, including restraints on interest rates, and possible quantitative restraints, has had an important impact on … States as substitutes for their head offices in extending commercial and industrial loans to Japan-based companies as well as …

is warranted. ; We then turn to the adjustment process. First, we present evidence that a narrowing of Japan's record … be counter-productive. The model shows that this outcome is possible, but we argue that for an economy with Japan … impact on domestic demand in Japan and on trade with the developing countries. …