Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve … based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor …-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including …

Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly. …

variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure … relationship between clarity and market volatility prior to and during the early stage of the global financial crisis. As the …

Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is … volatility and (the lack of) persistence implies that when one excludes volatile items relevant information is likely to be … discarded. Therefore, we propose a new type of core inflation measure, one that takes simultaneously into account both …

policy has a strong and statistically significant impact on broad money, non-oil activity, and inflation in the GCC region …