Over the last two centuries, the cross-spectral coherence between either narrow or broad money growth and inflation at … other countries, thus implying that the fraction of inflation’s long-run variation explained by long-run money growth has … correspondence with the inflationary outbursts associated with World War I and the Great Inflation–but not World War II …

–both per hour and per worker–in the United States, the Eurozone, the United Kingdom, Australia, and Japan over the post … years. Results for the Eurozone point towards a marked deceleration since the beginning of the 1980s, with equilibrium …

area, Japan, and U.K.) a compression in the long-term yield spread exerts a powerful effect on both output growth and … inflation. Second, conditional on available estimates of the impact of the FED’s and the Bank of England’s asset purchase …

-form) properties of the economy. Based on estimated models for the Great Inflation and the most recent period, I show that, as a … played by monetary policy in exacerbating the Great Depression, causing the Great Inflation, or fostering the Great …

We characterise the evolution of the U.S. unemployment-inflation trade-off since the late XIX century era via a … Bayesian time-varying parameters structural VAR. The Great Inflation episode appears as historically unique along several … inflation and unemployment’s deviations from equilibrium–was, during those years, clearly out of line with respect to the rest …