to model and shock misperceptions, and parameter uncertainty. Targeting inflation in both consumer and intermediate goods …

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 …

ZLB constraints, the anticipation of future ZLB episodes creates a trade-off between inflation and output stabilization …. As a consequence, inflation systematically falls below target even when the policy rate is above zero. A conservative …

In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and … Mexico. We do so using survey-based measures as well as financial market-based measures of long-term inflation expectations …, where we construct the market-based measures from daily prices on nominal and inflation-linked bonds. This paper is the …

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 …

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 …