"This paper estimates the effect of higher crude-oil prices on the inflation rate in the U.S. It does so by estimating … crude oil prices. This term is inserted using a third degree polynomial distributed lag of four quarters that allows not … only for some immediate impact on the consumer price index (e.g. through gasoline prices), but also for a delayed impact as …

This paper investigates the relationship between money growth, inflation, and productive activity in a general … variety, allows us to study price determination in a search-theoretic environment with divisible money and goods. In our basic … channel which links money growth to real activity. …

Recent research showing negative correlations between detrended output and prices during the postwar period has brought … into question the conventional wisdom that prices are procyclical. However, this finding has been shown to be sensitive to … the sample period considered. This paper examines the relationship between output and prices in the frequency domain …

We examine the responses of prices and inflation to monetary shocks in an inventory-theoretic model of money demand. We … show that the price level responds sluggishly to an exogenous increase in the money stock because the dynamics of … households' money inventories leads to a partially offsetting endogenous reduction in velocity. We also show that inflation …