bigger government reduced it, with the effects of inflation being statistically insignificant. Politically, the efficacy of …

We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of … establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the … United States economy and the long-run equilibrium properties are compared at low and high inflation. We find that, when the …

consumer price inflation rate. -- Wage stickiness ; micro-level evidence ; measurement error …

, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate … spell, while older workers accelerate their transition to full retirement. We also find that high inflation discourages full …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …