? National income accounts do not take into account non-market activities. Some progress has been made in the theory and …

linked to the monetary policy regime. Before and after the 'Great Inflation', nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the 'Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real … when inflation falls. An increase in inflation has opposite effects, but with smaller magnitudes. In the cross section, the … model predicts the negative impact of inflation on real equity values is stronger for low leverage firms. We find empirical …

We examine partisan bias in inflation expectations. Our dataset includes inflation expectations of the New York Fed …'s Survey of Consumer Expectations over the period June 2013 to June 2018. The results show that inflation expectations were 0 …. Compared to inflation expectations in Democratic-dominated states, inflation expectations in Republican-dominated states …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …