Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After … impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … unemployment—compared to the past. We examine another aspect that could explain this empirical finding, namely the demographic …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

these indicators contain valuable information for inflation. Finally, state-local expenditures help predict US inflation. A … inflation. We provide evidence that fluctuations in certain fiscal variables contain valuable information to predict …