This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate … for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of … inflation-targeting policies. New material includes labor and financial market frictions, the zero lower bound on nominal …

for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i …

for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i …