Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods …. Correlations of inflation with the growth of money also are higher when high-inflation as well as low-inflation countries are … included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together …

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …

inflation and labor market dynamics. In particular, it fails to generate a Beveridge curve: vacancies and unemployment are … market flows to more realistic values. However, inflation dynamics are only weakly affected by real wage rigidity. This is … marginal cost that is relevant for inflation dynamics via the Phillips curve contains a dynamic component that does not …

real wage and total factor productivity (TFP) while reducing inflation. Each of these facts is hard to reconcile with both … inflation and, through the monetary policy rule, the real interest rate. Consumption increases as a result. …

explaining the deviations of household inflation and unemployment expectations from the rational expectations benchmark … demographic groups have sharply different predictions for macroeconomic aggregates like the inflation rate …

If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation … empirical importance in explaining inflation dynamics in the US and in the euro area. …