regime during a deceleration in economic activity and with headline and core inflation remaining well below the FOMC's 2 … percent inflation target. Moreover, both short- and long-term inflation expectations were drifting lower. These developments …

similar result holds for inflation: to bring inflation to their desired rate, individuals would be willing to sacrifice around … 5% of their consumption. Willingness to pay to eliminate business cycles and inflation is generally higher for those …

countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …

side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of … information about future movements of U.S. inflation and real output. Statistical evidence suggests that the Friedman …

substantial fraction of the cyclical variation in output and is consistent with the observed inertia in inflation. This is true …

than rules that also include current or future inflation …

and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s … information about future movements of US real output and inflation. Statistical evidence here provided thus suggests that the …

side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of … valuable information about future movements of U.S. inflation and real output. Statistical evidence suggests that the Friedman …

and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s … information about future movements of US real output and inflation. Statistical evidence here provided thus suggests that the …

countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …