control for low-frequency movements in inflation, unemployment, and growth that are pervasive in the post-WWII period. We show … that cyclical fluctuations of inflation are related to cyclical movements in real activity and unemployment, in line with …We study the relation between inflation and real activity over the business cycle. We employ a Trend-Cycle VAR model to …

inflation can be achieved without significant trade-offs, such as reducing economic activity or increasing unemployment. These …This paper studies people's understanding of inflation--their perceived causes, consequences, trade-offs--and the … views align with established economic theories. Our key findings show that the major perceived causes of inflation include …

, unemployment and inflation to aggregate shocks. The ratio between job-finding probabilities from job-to-job and from unemployment … marginal costs and inflation. As workers climb the job ladder, reducing slack in the employment pool, the inflation effect …, a measure of the "Acceptance rate" of job offers to employed workers, predicts negatively inflation, independently of …

U.S. inflation has recently surged, with inflation reaching its highest readings since the early 1980s. We examine the … drivers of this rise in inflation, focusing on supply chain disruptions, labor supply constraints, and their interaction … endogenous markups, we find that supply chain disruptions combined with a rise in the disutility of work raised inflation by …

How costly is inflation to workers? Answers to this question have focused on the path of real wages during inflationary … periods. We argue that workers must take costly actions ("conflict") to have nominal wages catch up with inflation, meaning … there are welfare costs even if real wages do not fall as inflation rises. We study a menu-cost style model, where workers …

individuals out of unemployment. There is a weakly positive effect on consumption inequality and no effect on financial income …

Blanchard (2022) highlights in his analysis of near-term inflation pressures. The amenity-values gains associated with the …

. The model delivers a static wage Phillips curve linking current wage inflation to current unemployment. For standard … inflation and current unemployment. This result puts in perspective the role played by the forward-looking component of the new … stickiness, which features a forward-looking wage Phillips curve, linking current wage inflation to future expected wage …

inflation strongly and persistently, (ii) lead to statistically weak negative effects on activity, (iii) contributed to … having a stronger effect on inflation expectations. Quantitatively, increasing political pressure by half as much as Nixon …