Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate …, the oil crisis is blamed for the 1973-74 high inflation. However, due to monetary policy decisions in 1972-73, the … inflation rate had already exceeded 10% before the onset of the oil crisis in October 1973. These decisions include the interest …

We present a simple long-run aggregate demand and supply framework for evaluating long-run inflation. The framework …-run inflation as well as transitions between steady states. We use the analysis to provide a fresh perspective on the forces that … drove global inflation downward over the past four decades. We argue that for inflation to remain low and stable in the …

Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation … variability outcomes, revealing national central banker's relative weight on output and inflation variability in their preferences …. We use estimates of the structure of 23 industrialized and developing economies, including nine that target inflation …

literature, cannot explain the persistence observed in actual inflation. We argue that two of the more prominent alternative …, are highly problematic. Fuhrer and Moore (1995)'s formulation generates inflation persistence, but this is a consequence … that workers care about the current real wages of other workers, one obtains the standard formulation with no inflation …

number of developing countries now have domestic inflation targets administered by independent and transparent central banks … monetary policy in these countries does not have any obvious international cost. Inflation targeters have lower exchange rate … volatility and less frequent "sudden stops" of capital flows than similar countries that do not target inflation. Inflation …

In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with … policy, low inflation, and bank credit has on house, stock and commodity prices. We review the historical narratives on asset … inflation or "easy" credit …

The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the … following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies …; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical …

in inflation. Coincident with these trends has been a surge in U.S. wealth inequality, with the Gini coefficient up by 0 …, this paper differs from previous work by focusing on only the direct effects of interest rate changes and inflation on the …