alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the … reject the nominal contracting model in favor of the relative contracting model which induces more inflation persistence, we … in countries which transitioned out of a high inflation regime such as France and Italy. We close the model by estimating …

the inflation–unemployment dynamics during the recession and COVID-19 times in India and the UK. Using a generalized … recession and eventually turn to stagflation in India due to inflation caused by the weak supply side. However, in the UK, the …