may operate in harmony or against demand and the net effect is what we call the "basic inflation." Contrary to a …-priori notions of positive association between inflation rates and profit rates, our theory proposes a critical test of a negative … total inflation. These pressures would be present even if no increase in cost occurs. This suggests that an important cause …

successful at describing the history of U.S. inflation. Motivated by these observations, I ask: Can we understand the history of … U.S. inflation using a framework that ignores monetary frictions? The fiscal theory of the price level allows us to … history of U.S. inflation with a fiscal-theory, frictionless view. I show how the fiscal theory can accommodate the stylized …

We develop and estimate a structural model of inflation that allows for a fraction of firms that use a backward looking … measures of arginal cost as the relevant determinant of inflation, as the theory suggests, instead of an ad-hoc output gap …. Real marginal costs are a significant and quantitatively important determinant of inflation. Backward looking price setting …

This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …

state) inflation; cyclical interaction of inflation with real variables; and positive analysis of monetary policy behavior …. With regard to ongoing inflation, the paper demonstrates that the principal conclusions of theoretical analysis are not …. Whether one assumes finite-lived or infinite-lived agents, such models suggest that steady-state inflation rates will conform …

This paper discusses three policy tools to mitigate jobless recoveries during financial crises: inflation, real … of inflation is sizably lower real wages. Hence, inflation does not prevent wage earners as a whole from getting hit by …/nontradables), from output peak to recovery point, displays a statistically significant relationship with inflation or jobless recovery …

a broad cross-section of countries inflation volatility has fallen markedly while output variability has either fallen … changes to these two factors. Our technique involves estimating movements toward an inflation and output variability …

dramatic consequences, at least in the very short-run. Within a few months inflation was down to 1-2 percent a month, foreign …

discusses the interaction of inflation and exchange rate policy in a variety of contexts. Four different settings are used to … in the transition from high to even higher inflation discussed in the context of Brazil; exchange rate fixing and real … deviatiins arise and how they influence inflation, trade and capital flight …