the employment of less attached workers when the central bank follows an average inflation targeting rule and when the … strict to an average inflation targeting framework especially benefits workers with lower labor force attachment. …

combine low inflation targets and high levels of wealth inequality. …

inflation at near-zero nominal interest rates. We show how (conventional and unconventional) monetary policy shocks enlarge the … ability to explain the facts, such that the theory supports both a negative and a positive response of inflation. Central to …

. Even if monetary policy is found to react only mildly to inflation pre-Volcker, the substantial degrees of bounded …

model of inflation dynamics to evaluate monetary policies that rely on going long. It concludes that these policies for the … most part fail to keep inflation under control. A complementary methodological contribution is to re-state the classic … integrate the endogenous determination of inflation and the term structure of interest rates. …

We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …

This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four … different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage cuts that would have … happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

This paper aims to show why Irving Fisher's own data on interest rates and inflation in New York, London, Paris, Berlin … changes in inflation, not even in the long run. In Fisher's data, interest rates have more persistence than inflation and … change less than inflation over time. The Fisher effect is a misnomer unless it is taken to refer to what Fisher actually …