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 …

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

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 …

growth and inflation decline right after and up to a year following a FTS spell. …

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 …

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 …