The paper discusses policy relevant models, going from (1) chronic inflation in the 20th century after WWII, to (2 …

perform poorly when knowledge is imperfect. In particular, policies that fail to maintain tight control over inflation are … prone to episodes in which the public's expectations of inflation become uncoupled from the policy objective and stagflation … effective communication of a central bank's inflation objective and of continued vigilance against inflation in anchoring …

What monetary policy framework, if adopted by the Federal Reserve, would have avoided the Great Inflation of the 1960s … policy strategies. We show that policies constructed using modern optimal control techniques aimed at stabilizing inflation … stabilizing economic activity, an optimal control approach would have failed to keep inflation expectations well anchored …

This paper has three parts. Part 1 constructs a classical economic model of inflation, augmented by a complete set of … core monetary model explains the history of inflation after WWII and Part 3 provides evidence to show that the … unconventional monetary policy, followed in the wake of the 2008 financial crisis, was effective in stabilizing inflation …

facets of this fact. We finally explain what the cumulated evidence means for macroeconomic theory. There is little support …

We propose a new approach to constructing inflation tracking portfolios. The key to this approach is the insight that … asset returns track expected inflation far better than they track current realized inflation. Thus, we can construct … portfolios that track next month's inflation much more closely than they track this month's inflation. We show this staggered …

This paper estimates expected future real interest rates and inflation rates from observed prices of UK government …-linked bonds. It assumes that expected log returns on all bonds are equal, and that expected real interest rates and inflation … inflation expectations forecast actual future inflation more accurately than nominal yields do. The estimated real interest rate …

extensive case study, we demonstrate how incorporating survey data on inflation expectations can address a number of otherwise …