We define the Fisherian Golden Rule measure of bond market inflation expectations as the difference between bond rates … and trend real GDP growth rates. The concept is based on the Fisherian theory that an increase in longer-term inflation … rates of interest would equal the growth rate of real output. We compare the bond market inflation experiences of 13 …

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 …

-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 …

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 …