times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

, asset prices and inflation. Korea's demographic trends seem to track Japan's with a lag of about 20 years. Low productivity … downward drag on its inflation going forward …

Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth … advanced and emerging market economies over the period 1990-2014. Inflation anchoring in each country is measured as the … response of inflation expectations to inflation surprises (Levin and others, 2004). We find that credit constrained industries …

about a country significantly correlate with macroeconomic variables (e.g., real GDP, inflation, capital flows), conditional …

Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate … inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically … significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and …

forms of pegged exchange rate regime. Currency boards are indeed associated with better inflation performance, even allowing … for potential endogeneity of the choice of regime. Perhaps more surprisingly, this better inflation performance is …