This paper introduces a form of boundedly-rational inflation expectations in the New Keynesian Phillips curve. The … representative agent is assumed to behave as an econometrician, employing a time series model for inflation that allows for both … permanent and temporary shocks. The near-unity coefficient on expected inflation in the Phillips curve causes the agent …

in driving inflation as globalization increases. We investigate the empirical evidence in favor of this prediction by … inflation in many countries, yet its influence did not become stronger over time. Second, a panel analysis that exploits the … positively related to the effects of global slack on inflation. We conclude that integration in the global economy is in fact …

to inflation explains only a tiny fraction of the variation in nonzero nominal price changes, (b) stores whose last … variability is not related to inflation. (Copyright: Elsevier) …

movements in aggregate output and inflation in response to a nominal shock. Two modifications of a standard one-quarter pre …, simulations based on estimated shocks to tfp and money growth suggest both output and inflation are too volatile relative to the …

, inflation is higher and the return on money decreases. In equilibrium, no arbitrage amounts to equating the real return of both … inflation and asset returns is in the spirit of research in finance initiated in the early 80's. (Copyright: Elsevier) …

suddenly caused a big jump in inflation in Israel in October 1983. That month, the government promised that four or five years … government would finance that debt via a future monetary expansion. That sparked an immediate jump in inflation via the …

This paper investigates the quantitative importance of various types of distortions for inflation and nominal interest …

household participation rates add substantial persistence to movements in inflation, and they deliver persistence in real …

leads to high long-run inflation. Firm entry magnifies the welfare cost of inflation generating large gains to international …