We study the relation between inflation and real activity over the business cycle. We employ a Trend-Cycle VAR model to … control for low-frequency movements in inflation, unemployment, and growth that are pervasive in the post-WWII period. We show … that cyclical fluctuations of inflation are related to cyclical movements in real activity and unemployment, in line with …

inflation behaves as if prices are nearly fully sticky (flexible). Using (conventional) measures of inflation that understate …

We study how within-store price variation changes with inflation, and whether households exploit it to attenuate the … inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in ten countries between … discounts grew at a much lower average rate than regular prices, helping to mitigate the inflation burden. By contrast …

inflation expectations. We develop this measure using assumptions common in economic analysis of open economies. Using quarterly …

unemployment-inflation tradeoff since 1995 …

, according to the Johansen procedure, cointegration fails to hold the farther out the forecasts extend. At the one year ahead …