. The imperfect information is endogenized using a variant of the theory of "rational inattention" proposed by Sims (1998 …

What accounts for inflation after 2008? We use the prominent pre-crisis Smets-Wouters (2007) model to address this … question. We find that due to price markup shocks alone inflation would have been 1% higher than observed and 0.5% higher that … responsible for the slow recovery of employment, though not for the initial drop. Monetary policy shocks predict an inflation rate …

interest on reserves. While their effects on output and inflation are small, these policies require major adjustments in the …

the adoption of inflation targeting. However, the recent financial crisis and the call for central banks to focus more on …

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve … based on the assumptions that inflation expectations are fully anchored at the Federal Reserve’s target, and that labor …-market slack is captured by the level of short-term unemployment. This equation explains inflation behavior since 2000, including …

their role in influencing the credibility of the monetary authority. We focus on measures of inflation expectations, the … mean reversion properties of inflation, and indicators of exchange rate risk. In addition we place some emphasis on whether …

expectations about future inflation. Our novel experimental framework allows us to disentangle learning from different sources of … conducted with 10,000 subjects in both a low-inflation context (the United States) and a high-inflation context (Argentina). To … individuals are highly influenced by both inflation statistics and supermarket prices when forming their inflation expectations …

China has experienced remarkably stable growth and inflation in recent years according to official statistics. We … alternative estimates of Chinese growth and inflation. Our estimates suggest that official statistics present a smoothed version … of reality. Official inflation rose in the 2000's, but our estimates indicate that true inflation was still higher and …