. We critically examine popular stories such as 'gold is an inflation hedge'. We show that gold may be an effective hedge … if the investment horizon is measured in centuries. Over practical investment horizons, gold is an unreliable inflation …

-price changes, and an index of equiproportional changes in all inflation rates, that we label quot;purequot; inflation. The paper … price changes to fundamental economic shocks. We use the estimates of the pure inflation and aggregate relative …-price components to answer two questions. First, what share of the variability of inflation is associated with each component, and how …

This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact … informational role: a potential customer uses current prices as signals of future prices. Inflation reduces the informativeness of … at moderate inflation rates …

on correlations between inflation and its moments goesback over thirty years, and was first used to reject the … independence of relative price changes and inflation that is assumed in neo- classical models. More recently, New Keynesian … macroeconomists have shown that the strong positive correlation between inflation and the skewness of the price change distribution is …

We test whether the time-series positive correlation of inflation and intermarket relative price variability is also … higher than average inflation also have higher than average relative price dispersion, ceteris paribus. This result holds for … part of the relationship between inflation and relative price variability cannot be explained by monetary factors …