inflation. Furthermore, home bias in households' preferences allows for real exchange rate fluctuation, giving rise to …

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian … models the fall in aggregate unemployment does not affect employed workers at all. However, Lüchinger, Meier and Stutzer … (2010) found that the risk of unemployment negatively affects utility of employed workers: An increases in aggregate …

revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency …-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general …-to-specific testing strategy reveals a recursive structure where only the unemployment rate and long-term interest rates are directly …

This paper contrasts empirically four leading models of inflation dynamics - the accelerationist Phillips curve (APC … inflation dynamics. …

dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is …

pattern of correlations between exchange-rate changes and inflation that is more realistic than provided by a more standard …

conditions and to any form of intertemporal or nominal-real links. They are easy to employ in practice, using inflation protected … bonds to infer real rates. With a time-varying inflation target, they can implement arbitrary inflation dynamics, including …

This paper contrasts empirically four leading models of inflation dynamics - the accelerationist Phillips curve (APC …