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 …

Following Fuhrer and Moore (1995), several authors have proposed alternative mechanisms to ‘hardwire’ inflation … European Monetary Union, of inflation-targeting countries, and of the new Swiss monetary policy regime, I show that, in the …), the parameters encoding the ‘intrinsic’ component of inflation persistence are not invariant across monetary policy …

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. …

-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 …