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 …

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 …

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 …

We study a dynamic stochastic general equilibrium model in which agents are concerned about model uncertainty regarding … from climate change to damages is subject to uncertainty, and we use robust control theory techniques to study efficiency … dynamic optimal taxation. A small increase in the concern about model uncertainty can cause a significant drop in optimal …

managers are risk averse, they might underinvest when firm-specific uncertainty increases, leading to suboptimal investment …

A consumption-based asset pricing model with risk and uncertainty implies that the time-varying exposures of equity … portfolios to the market and uncertainty factors carry positive risk premiums. The empirical results from the size, book … (individual stocks) with market and uncertainty predict the time series and cross-sectional variation in stock returns. We find …