-pricing theory, is calibrated to analyze the effects of monetary policy and financial innovation. We show that inflation can raise … output, employment and investment, plus improve housing and stock markets. For the baseline calibration, optimal inflation is …

activity and inflation as latent variables. We incorporate these latent variables into a factor-augmented vector autoregression … activity and inflation, consistent with previous studies. In contrast to much of the literature, however, we find that central …-bank-determined changes in Chinese interest rates also have substantial impacts on economic activity and inflation, while other measures of …

stimulus mostly generates inflation rather than output growth. To do this, I construct price-setting models with "volatility …

industries. Meanwhile governments responded with unprecedented stimulus packages, and inflation increased to its highest values … in 40 years. In this paper I investigate the contribution of aggregate monetary and fiscal policies to inflation … heterogeneous supply curves, industry-specific shocks to inelastically supplied goods increase aggregate inflation through a cost …

inflation, building on our earlier work for the United States. Globally, as in the United States, pandemic-era inflation was due … bank inflation targets. As the effects of supply shocks have subsided, tight labor markets, and the rises in nominal wages …, have become relatively more important sources of inflation in many countries. In several countries, including the United …

short-run and long-run inflation expectations. The estimated model allows us to analyze the direct and indirect effects of … product-market and labor-market shocks on prices and nominal wages and to quantify the sources of U.S. pandemic-era inflation … and wage growth. We find that, contrary to early concerns that inflation would be spurred by overheated labor markets …

probability of being a common currency country and outcome' equations for growth, volatility and inflation. We find that both type … of common currency countries have lower inflation than countries with a domestic currency. Dollarized countries have …

research effort; this is the essence of semi-endogenous growth theory. This paper interprets past and future growth from a semi …