Recent theoretical work shows that changes in the volatility of inflation and/or unem-ployment affect equilibrium in … propositionthat the volatility of unemployment helps explain inflation outcomes suffers from a spu-rious regression problem. Once this … problem is controlled for, the evidence suggeststhat the volatility of unemployment does not help explain inflation outcomes …

Inflation rates in a number of OECD follow a common trend over the past four decades: inflation starts out low in the … in the behavior of trend inflation suggests that any explanation of long run inflation trends ought to apply across OECD …-varying NAIRU, can explain long run trends in U.S. inflation. In this paper we show that this result cannot serve as an explanation …

in an economy. It presents a monetary growth model in which inflation affects credit market efficiency, and via this link … offspring which serve as internal finance, more of which promotes credit market efficiency and capital formation. Inflation acts … proceeds of the inflation tax to capitalists or workers, inflation decreases the steady-state capital stock, although the …

hyperbolic discounting leads to inflation having significant long-run effects on real variables... …

We show empirically that survey-based measures of expected inflation are significant and strong predictors of future … money illusion seems to be the driving force behind our results. Another popular hypothesis - inflation as a proxy for …

" – although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly … asserted that, in the context of thenew Phillips curve (NPC), inflation is a jump variable... …

, can well be explained. Alongside the more traditionalmacroeconomic determinants like core inflation, monetary policy and …

We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007in a traditional Phillips curve … affect inflation through (the common part of) domestic demand and supplyconditions. Our most important result is that the … common component of changes in unit laborcosts notably affects inflation. We also find evidence that movements in import …

inflation. We find that these forecasts do not contain the intended information.Rather, they either have no information content …