This paper seeks to identify what worked and what didn't work to stop inflation in Argentina in the last seventy years …

normalizing and imposing independence conditions lead to distinct specifications of the covariance between inflation persistence … parameter and inflation shock. Moreover, the paper discusses this covariance in the light of the microfoundations of the hybrid … New Keynesian Phillips-curve, finding inflation persistence to be non-orthogonal to shocks …

We study the effects of forward looking communication in an environment of rising inflation rates on German consumers …' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward looking information …