facing an inflation-unemployment trade-off …This paper is focused on Modern Monetary Theory’s (MMT) treatment of inflation from an open economy perspective. It … analyzes how the inflation process is explained within the MMT framework and provides empirical evidence in support of this …

facing an inflation-unemployment trade-off. …This paper is focused on modern monetary theory's (MMT) treatment of inflation from an open-economy perspective. It … analyses how the inflation process is explained within the MMT framework and provides empirical evidence in support of this …

Building on the results in Nalewaik (FEDS 2015-93), this work models wage growth and core PCE price inflation as regime … price inflation that becomes much larger after labor markets tighten beyond a certain point. The results are informative for … assessing the likelihood and risks of meeting certain inflation targets on a sustained basis …

Building on the results in Nalewaik (FEDS 2015-93), this work models wage growth and core PCE price inflation as regime … price inflation that becomes much larger after labor markets tighten beyond a certain point. The results are informative for … assessing the likelihood and risks of meeting certain inflation targets on a sustained basis …

risk aversion shock in output, inflation, interest rate, and real money balances in the Eurozone. Our analysis suggests …