" – although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly … asserted that, in the context of thenew Phillips curve (NPC), inflation is a jump variable... …

account middle-inflation overestimate the impact of financial expectations …

associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage … coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i …

We show that grading standards for primary school exams in England have triggered an inflation of quality indicators in … inflation resulting from discretion in the grading of randomly assigned external markers. We find large housing price gains from … the school quality improvements artificially signaled by inflation as well as lower deprivation and more businesses …

- although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this persistency … setting (in which real variables not only affect inflation, but are also influenced by it), standard wage-price staggering …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …

Evidence of grade inflation in U.S. high schools is often misinterpreted due to confusion about how grade inflation is …, or should be, defined. This note clarifies the implications of recent research on grade inflation in two ways. First, we … situate the evidence by defining three distinct types of grade inflation. Second, we extend past research using data from …

This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …

This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties …

anticipated rate of inflation, as well as in adjacent bins. Downward nominal wage rigidities and spikes at zero remain important …