The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper … constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass …, and more closely related to headline inflation over the next year. The weighted median also has a drawback: in most …

The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …

Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur … more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional … views that inflation will surge without swift rate rises. The key question is whether expectations are forward looking or …

inflation to monetary policy …

conventional and aggregated inflation expectations. Our results chart a new course for designing measurement of inflation …This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts … across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on …

The ratio of revenue to inputs differs greatly across plants within countries such as the U.S. and India. Such gaps may … measurement error. Our method exploits how revenue growth is less sensitive to input growth when a plant's average products are … overstated by measurement error. For Indian manufacturing from 1985-2013, our correction lowers potential gains from reallocation …

In this paper, we illustrate a methodology to measure discrimination in educational contexts. In India, we ran an exam …

for distortions to explain large TFP gaps. The effect of curvature on the impact and measurement of distortions is also …