are nested within this framework: the (squared) optimal targeting rule; inflation, output-gap growth and nominal income … growth targeting; and inflation and output-gap contracts. …

during the Fed׳s first 100 years: the post-World War I deflation, the deflation of the Great Depression, the inflation of … World War II, and the Great Inflation of the 1970s. In terms of their macroeconomic impacts, I find that deflation was … War II was in debasing debt through inflation. I find that the main drivers of the 1970s economy were long-run changes in …

would happen if assumptions are changed so inflation have redistribution effects. Evidence on nominal positions suggests …

both deviations from the policy rule and a drifting inflation target. Once the inflation target is fixed, the incidence of …

Was UK inflation more stable and/or less uncertain before 1914 or after 1945? We address these questions by estimating … a statistical model with changing volatilities in transient and persistent components of inflation. Three conclusions …

curve. Current and future firms entering in the markets decrease current inflation because they reduce markups and the … number of firms) and zero producer price inflation. The optimal Ramsey allocation implies zero inflation tax in steady state. …

, these preferences fail to generate observed inflation inertia and output persistence after a monetary policy shock …

In this study, we develop a search-and-matching monetary growth model to analyze the effects of inflation on economic …-and-matching model. We find that the channel through which inflation affects economic growth in the search-and-matching model is … effects of inflation on economic growth using panel regressions. In the simulation analysis, we quantitatively evaluate the …

oil. Optimal policy fully stabilizes core inflation when wages are flexible. The nominal rate rises (falls) in response to … the demand (supply) shock. With sticky wages core inflation falls (rises) in response to the demand (supply) shock …. Impulse response functions from a VAR estimated with post-1986 U.S. data show minimal movement in core inflation in response …

flows can have different rates of return; and (iii) an increase in inflation raises asset prices, lowers their returns, and … widens the rate-of-return differences between assets. On the normative side we show that there is a range of inflation rates …