containing information on real economic activity, inflation, interest rates and Divisia monetary aggregates produces the most …

Elevated inflation can threaten the credibility of central banks and increase the risk that inflation expectations do … not remain anchored. Wage-price spirals might develop in such an environment, and high inflation could become entrenched …-varying propagation of inflationary shocks that improves forecasting performance of inflation and wage growth. Central bank credibility is …

-off between inflation and labor market stabilization. As migration flows are generally inefficient, however, regionspecific …

quantitatively study the positive and normative implications of employer-to-employer (EE) transitions for inflation. We find that EE … dynamics played an important role in shaping the differential inflation dynamics observed during the Great Recession and COVID …-19 recoveries, with the former exhibiting subdued EE transitions and inflation despite both episodes sharing similar …

interaction affects the allocation and welfare. Regarding how banking affects the welfare costs of inflation: First, we find that …, with banking, inflation generates smaller welfare costs. Second, we show that, lowering inflation improves welfare not just … nature of intermediation cost is critical for accurately assessing the welfare gain of lowering the inflation target …