We test the menu cost model of Ball and Mankiw (1994, 1995) on data from the inflation and deflation periods in Japan … during both inflation and deflation, is strongly supported. The data are less clear on, but does not reject, the hypothesis … that the parameter on the standard deviation changes sign between inflation and deflation periods. …

The classical definition of inflation refers to increasing the quantity of money in circulation. However, in everyday … language, inflation is seen rather through the effects of monetary expansion, i.e. increasing prices. Therefore, the term … “inflation” generates a semantic confusion, for which could be responsible the omnipresence of consumer price index (CPI) in the …

There has been much concern about inflation in China recently. The People’s Bank in the last few months has raised the … reserve requirement several times to control the money supply to slow down inflation. In 1985 when I was organizing a summer … workshop on macroeconomics in cooperation with the Ministry of Education, Premier Zhao Ziyang asked me to forecast inflation in …

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) …

sector, and September 11 events in the USA. Recession forces hit world trade and investment activities in particular. Main …

-WWII period. The contribution of regional comovements, however, has increased significantly. Second, the share of inflation … comovements within regions have accounted for the bulk of fluctuations in business cycle and inflation. Fourth, prices have become …

I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of … inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused … on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the …