Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal … microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants …

recession of 2008-2009, to think about whether the US is headed for a fiscal inflation, and what that inflation will look like …. I emphasize that a fiscal inflation can come well before large deficits or monetization are realized, and is likely to …

accumulated debt, but surpluses do not respond to arbitrary unexpected inflation and deflation, so fiscal policy remains active …

welfare when alternative instruments are unavailable. Higher in inflation targets instead allow for negative real interest …

debt matters. For example, it determines whether news of future deficits implies current inflation or future inflation …. When long-term debt is present, the government can trade current inflation for future inflation by debt operations; this … variance of inflation. I find cases in which long-term debt helps to stabilize inflation, and I find that the optimal inflation …

This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness … (Bossone, The portfolio theory of inflation and policy (in)effectiveness, 2019). The PTI shows that when an economy is heavily … and policies aimed to stimulate output growth dissipate into domestic currency depreciation and higher inflation, with …

welfare when alternative instruments are unavailable. Higher in inflation targets instead allow for negative real interest …

different policy regimes considered. In particular: (i) both in the long run and in short run equilibrium, a greater inflation …