(GFC) of 2007-2008. It was greatly aided by the adoption of inflation targeting. In this paper we evaluate this convergence …

Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate … in the postwar Japanese history after the chaotic hyperinflation following the end of the Second World War. Traditionally …, the oil crisis is blamed for the 1973-74 high inflation. However, due to monetary policy decisions in 1972-73, the …

We present a simple long-run aggregate demand and supply framework for evaluating long-run inflation. The framework …-run inflation as well as transitions between steady states. We use the analysis to provide a fresh perspective on the forces that … drove global inflation downward over the past four decades. We argue that for inflation to remain low and stable in the …

interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation …

Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the … crisis in the early 1980s. We show that the high-inflation period (1960-1994) was characterized by a combination of fiscal … deficits, passive monetary policy, and constraints on debt financing. The transition to the low-inflation period (1995 …

recession of 2008-2009, to think about fiscal pressures on US inflation, and what sequence of events might surround such an … inflation. I emphasize that a fiscal inflation can come well before large deficits or monetization are realized, and is likely …

We analyze the impact of fiscal and monetary stimulus in an economy with mortgage debt, where inflation redistributes … inflation, increasing consumption demand and house prices. The power of fiscal stimulus grows when borrowers are more indebted …. We then show quantitatively that transfers followed by easy monetary policy cause a surge in inflation which helps …