things being same, a same-magnitude oil-price shock has greater effect on inflation expectations in post-crisis period than … inflation expectations than a negative (decreasing) oil price shock. We conclude that FED's greater focus on output …We investigate the possible asymmetric response of inflation expectations to oil price and policy uncertainty shocks …

and transitory changes in their idiosyncratic productivity. Upon the arrival of a productivity shock, a firm's uncertainty … spikes up and then fades with learning until the arrival of the next shock. These uncertainty cycles, when paired with menu …

properly accounts for asset pricing facts. I find that the Ramsey optimal monetary policy yields an inflation rate above 3 ….5% and inflation volatility close to 1.5%. The same model calibrated to a counterfactually low equity premium implies an … optimal inflation rate close to zero and inflation volatility less than 10 basis points, consistent with much of the existing …

smaller effect of this shock on real activity. …

The purpose of this paper is to investigate the nature of professionals’ inflation forecasts inattentiveness. We …

and inflation (short and long-term) on the other hand. Combining both data sets, factor analysis delivers (1) an … international stock market factor, (2) a common European uncertainty factor and (3) an US-inflation uncertainty factor. -- monetary …