likely to adopt technologies and increase productivity …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

variables also significantly reduce inflation in both the short and long run. Given the actual changes in these factors in the … inflation in the latter half of the last decade …

We empirically investigate the costs and benefits of going from low inflation to price stability in the case of Germany … reducing the trend rate of inflation by 2 percentage points exceeds the temporary costs in terms of output losses is below 0 ….3% of GDP. We analyze the welfare implications of the interactions even of moderate rates of inflation with the distorting …

Switzerland. Even with wide differences in inflation processes across these countries, there is we find strong evidence that the … term structure does have significant forecasting ability for future changes in inflation, particularly so at long …

countries and through time between the rate of inflation, inflation variability, and our measures of price uncertainty. In …. Our results suggest that the higher and more variable inflation of the 1970s did increase uncertainty about the aggregate …