This paper examines the behavior of quarterly inflation in India since 1994, both headline inflation and core inflation … as measured by the weighted median of price changes across industries. We explain core inflation with a Phillips curve in … which the inflation rate depends on a slow-moving average of past inflation and on the deviation of output from trend …

This article provides an empirical investigation of the determinants of terrorism at the country level. In contrast … with the previous literature on this subject, which focuses on transnational terrorism only, I use a new measure of … terrorism that encompasses both domestic and transnational terrorism. In line with the results of some recent studies, this …

-frequency volatility in wages appears to be due to noise, rather than to variation in workers' preferences or market power …

inflation process is well described by an unobserved component trend-cycle model with stochastic volatility or, equivalently, an …Forecasts of the rate of price inflation play a central role in the formulation of monetary policy, and forecasting … inflation is a key job for economists at the Federal Reserve Board. This paper examines whether this job has become harder and …

Over the 21st century, and especially since 2014, global exchange rate volatility has been trending downwards, notably … continued through the Covid-19 recession to date: unusual, as exchange volatility generally rises in US recessions. Compared to … measures of stock price volatility, exchange rate volatility rivals the lows reached in the heyday of Bretton Woods I. This …

This paper studies the patterns of inflation skewness in 56 countries. Monthly data suggests that inflation is … a developing country that uses inflation tax and external borrowing as the residual means for fiscal financing. The … model predicts a convex dependency of inflation on output, where inflation skewness depends positively on inflation …

stimulus mostly generates inflation rather than output growth. To do this, I construct price-setting models with "volatility …Is monetary policy less effective at increasing real output during periods of high volatility than during normal times …? In this paper, I argue that greater volatility leads to an increase in aggregate price flexibility so that nominal …

This paper examines whether house demolitions are an effective counterterrorism tactic against suicide terrorism. We …