Woodford (2007) argues that it is not appropriate to regard inflation in the steady state of New Keynesian models as …-rate policy rule determines steady-state inflation. In this paper, I offer an alternative interpretation of steady-state behavior …, according to which it is appropriate to regard steady-state inflation as determined by steady-state money growth. The argument …

Ireland and Switzerland both had rising inflation during the early 1970s, but their experiences diverged thereafter, so … that they form a rare example of two countries whose inflation rates are poorly correlated with one another over the Great … Inflation period. In addition, each of the two countries' records is anomalous in important respects relative to other economies …

We argue that the Great Inflation experienced by both the United Kingdom and the United States in the 1970s has an … common doctrine underlying the systematic monetary policy choices in each country. The nonmonetary approach to inflation …

This paper revisits the issue of what factors motivated the macroeconomic policies that led to the Great Inflation of … timing patterns relating monetary policy developments and inflation; and (3) the record of economic views (manifested in … - which claims that policymakers took a nonmonetary view of the inflation process - meets all three criteria. Other …

This paper studies the Great Inflation in Canada, Australia, and New Zealand. Newspaper coverage and policymakers …' statements are used to analyze the views on the inflation process that led to the 1970s macroeconomic policies, and the different … to use the monetary policy neglect hypothesis, which claims that the Great Inflation occurred because policymakers …