. -- Great inflation ; passive policy ; break tests ; vector autoregressions …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

variances for all series, and decreases in the variances of inflation and the output gap, without any need of sunspot shocks …

We develop a method of quantifying the uncertainty surrounding the estimates of the fundamental inflation implied by … the New Keynesian Phillips Curve (NKPC). The uncertainty is represented as a band around the fundamental inflation, and … a projection of real marginal costs. An empirical application on UK and US data confirms that fundamental inflation …

advantages of structural analysis and use the models for interpreting the recent development of the inflation rate using …

deflator inflation, real GDP growth, and the rate of growth of M2. We identify 4 shocks–monetary policy, demand non …, with (e.g.) significant increases in the long-run coefficients on inflation and money growth around the time of the Volcker … macroeconomic environment of the last two decades. First, the Great Inflation was due, to a dominant extent, to large demand non …

index of monetary conditions; dynamic forecasts of inflation; and the relation between inflation and the output gap …