question of what the welfare cost of inflation is (which depends on how the government uses the windfall gains from the … inflation tax). We find that cohort effects are quite important, accounting for half of the increase in money holdings with age … literature. The cost of inflation is lower by one-third in the model and, as a result, lower than previously estimated in the …

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because …

inflation dynamics that resemble the missing disinflation of that period. …

2022Q1 to understand households' expectations about price and wage inflation, their respective links to views about labour … recent research, that households associate higher expected price inflation with worse labour market conditions. In contrast … standard macroeconomic models. These differing supply-side and demand-side views of price inflation and wage inflation are …

We study how within-store price variation changes with inflation, and whether households exploit it to attenuate the … inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in 10 countries between … discounts grew at a much lower average rate than regular prices, helping to mitigate the inflation burden. By contrast …

We use Canadian home scanner data to study household food inflation rates during periods of low and high inflation. We … find that during the post-pandemic surge in inflation, the actual inflation rates experienced by different households … varied more widely. Low-income households faced higher inflation than high-income households. We find that during the …

inflation response to money shock, the liquidity effect and the sluggish price adjustment) are not robust. In an endogenous …