, we study the implications of different inflation regimes on the racial unemployment gap. Higher trend inflation increases …

It is commonly asserted that inflation is a jump variable in the New Keynesian Phillips curve, and thus wage …-price inertia does not imply inflation inertia. We show that this "inflation flexibility proposition" is highly misleading, relying … affect inflation, but are also influenced by it) the phenomenon of inflation inertia re-emerges. Under plausible parameter …

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

-have been carried out at no cost to output. After suggesting a new methodology that allows for long-lived effects and inflation … combination of circumstances-i.e. capital inflows, structural reforms and the peculiar recent inflation history-can explain that …

This paper examines the recent increase of the measured inflation rate to assess the degree to which the acceleration … pandemic relief. Some have attributed the inflation to excess demand, most notably Larry Summers, who had warned that the …, recovery would have been sufficiently slow to minimize inflation pressure. We closely examine the main contributors to rising …

of this analysis is that the model overestimates output persistence in high inflation countries and underestimates output … persistence in low inflation countries. This has important implications not only for this model, but also for any economist …

" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … asserted that, in the context of the new Phillips curve (NPC), inflation is a jump variable. We argue that this "persistency … equilibrium setting (in which real variables not only affect inflation, but are also influenced by it), standard wage …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how …