its slope coefficient in recent years, as well as a shrinking role of lagged price inflation in the determination of wage … inflation. We provide estimates of a conditional wage Phillips curve, based on a structural decomposition of wage, price and …

curves display similar patterns of instability and to examine lead-lag patterns in how individual inflation series change. We …

This paper provides an explanation for the run-up of U.S. inflation in the 1960s and 1970s and the sharp disinflation … by low inflation. However, prolonged episodes of high inflation ending with rapid disinflations can occur when … policymakers underestimate both the natural rate of unemployment and the persistence of inflation in the Phillips curve. I estimate …

inflation, strong real wage growth, and low rate of unemployment in the U.S. economy during the late 1990s. Many of these …

matters for stabilization policy is the rate of inflation, not the rate of wage change. This paper provides new estimates of … result in the paper is that wage changes do not contribute statistically to the explanation of inflation. Deviations in the … growth of labor cost from the path of inflation cause changes in labor's income share, and changes in the profit share in the …

the evidence in favour a nonlinear Phillips curve may is fact be driven by improperly controlling for inflation …

This paper reexamines the Phillips and Beveridge curves to explain the inflation surge in the U.S. during the 2020s. We … five other inflation surges over the past 111 years where the Beveridge threshold was breached. We define a Beveridge …

A parsimonious model of shifting policy regimes can simultaneously capture expected and actual US inflation during 1969 …. Private sector learning about policymaker type leads to a reputation state variable. We use model inflation forecasting rules … to extract state variables from SPF inflation forecasts. US inflation is tracked by optimal policy without commitment …

, consistent with the evidence, increases with inflation. Because we assume that firms sell multiple products and choose how many … inflation accelerator--a feedback loop between inflation and the fraction of price changes--which significantly increases the … slope of the Phillips curve during periods of high inflation. Applied to the U.S. time series, our model predicts that the …