We develop an asset-pricing model with endogenous corporate policies that explains how inflation jointly impacts real … asset prices and corporate default risk. Our model includes two empirically grounded nominal frictions: fixed nominal … when inflation falls. An increase in inflation has opposite effects, but with smaller magnitudes. In the cross section, the …

-driven theory of dynamic pricing in which the Phillips curve slope is endogenous to systematic aspects of monetary policy. In our … attention to changes in their input costs, which leads to a flatter Phillips curve and more anchored inflation expectations …

We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a … generally has a significant positive effect on inflation, but that this effect decreases as integration in the global economy …

-level productivity and scale effects. I show here that the incorporation of theory-based endogenous markups into AGE models is not …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment …

We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework …1-2017Q4 period. We find broadly that both global and domestic output gaps are significant drivers of inflation both in … output gaps on inflation …

Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations. …