rates, and the shift in the response of the term structure of interest rates to inflation and output. Although the theory …This paper shows that the theory of monetary policy rules is able to explain, predict, and help understand a variety of …

In the absence of monetary superneutrality, inflation affects capital accumulation and the demand for real balances …

This paper develops a model of inflation inertia based on optimizing forward looking staggered price setting in a small … open economy. Unlike in current models of sticky prices, transitions to a lower steady state inflation rate take time even … these output losses and the gains from smaller inflationary distortions. For reasonable parameter values inflation …

paper considers whether the various changes that have taken place were influenced primarily by economic theory or by …

general equilibrium theory in a new way, we provide an alternative model and an alternative narrative to New …

the Taylor principle, also exhibit solutions with explosive inflation that cannot be ruled out by any transversality …

monopolistically competitive pricing, higher-order expectations are crucial for aggregate inflation dynamics, as argued by Phelps (1983 … disturbance, and a delayed effect on inflation, as found in VAR studies …