inflation persistence has changed. We focus on the inflation gap, defined as the difference between inflation and trend … inflation, and we measure persistence in terms of short- to medium-term predictability. We present evidence that inflation …-gap persistence increased during the Great Inflation and that it fell after the Volcker disinflation. We interpret these changes using …

Previous studies have interpreted the rise and fall of U.S. inflation after World War II in terms of the Fed's changing … the low-inflation policy recommended by a natural rate model even after economists had developed statistical evidence … inflation rate in light of updated probabilities that it assigns to three competing models of the Phillips curve. Cautious …

Previous studies have interpreted the rise and fall of U.S. inflation after World War II in terms of the Fed's changing … the low-inflation policy recommended by a natural rate model even after economists had developed statistical evidence … inflation rate in light of updated probabilities that it assigns to three competing models of the Phillips curve. Cautious …

Was UK inflation more stable and/or less uncertain before 1914 or after 1945? We address these questions by estimating … a statistical model with changing volatilities in transient and persistent components of inflation. Three conclusions …

for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize … actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation …, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated …

for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize … actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation …, Sargent finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated …