This paper focuses on the empirically observed relationship between demographic change and inflation and explores the … demographic change and inflation dynamics. We are the first to formally disentangle the two components of demographic change …: population size and structure, and determine how they separately affect inflation. We find that changes in population size are a …

1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests … that the Bundesbank – which is near-universally credited for sparing West Germany the Great Inflation – would also not have … been able to prevent the Great Inflation in the United States. The sheer implausibility of this result sounds a cautionary …

voneinander unterscheidet, dass sich dies im Verlauf des Zusammenhangs von Inflation und Arbeitslosigkeit niederschlägt. Erste … Studie bezieht sich auf die klassische Phillips-Kurve, die den empirischen Zusammenhang zwischen Inflation und …

-dependence; for periods of relatively high and volatile inflation not only the size of price changes (intensive margin) but also the … fraction of price adjustment (extensive margin) is important for aggregate inflation dynamics. Moreover, at the business cycle … frequency, variations in the extensive margin explain a large fraction of inflation variability even for moderate inflation …

-dependence; for periods of relatively high and volatile inflation not only the size of price changes (intensive margin) but also the … fraction of price adjustment (extensive margin) is important for aggregate inflation dynamics. Moreover, at the business cycle … frequency, variations in the extensive margin explain a large fraction of inflation variability even for moderate inflation …

below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than … anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 … find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s but has …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation,for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then …