This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …

We provide a critical assessment of the method used by the Cleveland Fed to correct expected inflation derived from … index-linked bonds for liquidity and inflation risk premia and show how their method can be adapted to account for time …-varying inflation risk premia. Furthermore, we show how sensitive the Cleveland Fed approach is to different measures of the liquidity …

The extent to which the stock market provides a hedge to investors against inflation is examined for African stock …

A crucial but often ignored element of inflation expectations is the amount of perceived inflation risk. This paper …) using a new methodology. The main conclusion from our analysis is that, when monitoring inflation expectations, limiting … attention to a point prediction is not sufficient. The analysis of inflation expectations should take into account inflation …

way of testing theory by studying the links between forecasts of U.S. nominal interest rates, inflation, and real …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first …

Survey data on household expectations of inflation are routinely used in economic analysis, yet it is not clear to what … recovering households' implicit expectations of inflation from their consumption expenditures. We show that these implicit … expectations have predictive power for CPI inflation. They are better predictors of CPI inflation than survey responses, except for …

information from the yield curve. We find important changes in the dynamics of macroeconomic variables such as inflation and the … variables. The monetary policy shocks of the early 1980s explain a large portion of the persistence of inflation and the level …

This paper takes up the issue of the flexibility of inflation targeting regimes, with the specific goal of determining … whether the monetary policy of the Bank of England, which has a formal inflation target, has been any less flexible than that … of the Federal Reserve, which does not have such a target. The empirical analysis uses the speed of inflation forecast …