of money, credit, interest rates, production, and employment. Inflation is due to conflict; it cannot be explained by …This paper isolates the role of conflict or disagreement on inflation in two ways. In the first part of the paper, we … present a stylized model, kept purposefully away from traditional macro models. Inflation arises despite the complete absence …

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 …We study the relation between inflation and real activity over the business cycle. We employ a Trend-Cycle VAR model to …

combine low inflation targets and high levels of wealth inequality …

constraints, and shocks to them, shape inflation. We show that binding constraints for domestic and foreign producers shift … recent US data, we find that binding constraints explain half of the increase in inflation during 2021-2022. In particular …, tight capacity served to amplify the impact of loose monetary policy in 2021, fueling the inflation takeoff …

inflation in the 2020s. Economic slack is measured as firms' job vacancies over the number of unemployed workers. After showing …. Policy implications include the thesis that appropriate monetary policy can bring inflation down without a significant …

potential positive associations of inflation, such as with reduced unemployment or enhanced economic activity, are typically not …This paper provides new evidence on a long-standing question asked by Shiller (1997): Why do we dislike inflation? I … inflation and their reactions to it. The predominant reason for people's aversion to inflation is the widespread belief that it …

monetary rules was responsible for thirty years of low and stable inflation in the period from 1979 through 2009. I present a …

impact on monetary economics of Laidler's work on the demand for money and the quantity theory of money; the transmission … mechanism on the link between money and nominal income; the Phillips Curve; the monetary approach to the balance of payments …

monetarism: Milton Friedman and the team of Karl Brunner and Allan Meltzer. Friedman did not explicitly state the reasons he … generally chose not to use the IS-LM model in rejecting Keynesian views on the demand function for money, the role of autonomous … three assets: base money, government debt, and real capital. They set up a model with financial institutions and utilized it …