In this paper, we investigate the use of limited-information estimators as measures of core inflation. Employing a …-sectional distribution of inflation can cause substantial noise in the aggregate price index at high frequencies. The model suggests that … limited-influence estimators, such as the median of the cross-sectional distribution of inflation, will provide superior short …

The contrast between the early nineteenth century Argentinean experience of high inflation and the American experience … of low inflation is interpreted in terms of a dynamic monetary model of optimal taxation. It is argued that the two … the inflation tax may be viewed as an optimal solution to its wartime problems. By contrast, with the exception of the …

future path of inflation. Mishkin (1990) has recently shown that the spread between the 12-month and 3-month interest rates … helps to predict the difference between the 12-month and 3-month inflation rates. His approach however, lacks a theoretical … the problem of predicting the inflation spread. It is shown that the appropriate indicator of expected inflation can make …

Recognizing that inflation of the value of output and its costs of production must be equal, we focus on a cost … of prices and productivity. Conflicting claims to income are the underlying source of inflationary pressure.Inflation … expectations to inflation targeting, anchored by economists’ misunderstanding of the physical meaning of ergodicity and ontological …

inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro …

This paper shows that inflation has depended strongly on the growth rate of output for most of the twentieth century …

Recent literature suggests that long-run averages of growth and inflation are only weakly correlated and such … correlation is not robust to exclusion of extreme inflation observations; inclusion of time series panel data has improved matters …, but an aggregate parametric approach remains inconclusive. We propose a nonparametric definition of high inflation crises …

inflation, strong real wage growth, and low rate of unemployment in the U.S. economy during the late 1990s. Many of these …

Historians have suggested there were waves of inflation or price revolutions in the UK (and earlier England) in the 13 …th, 16th, and 18th centuries, prior to the ongoing inflation since 1914. We study retail price inflation since 1251 and … volatility. The long-horizon forecasts suggest only one inflation wave, that of the 20th century. We also use the model to …

The 1970s were America's only peacetime inflation, as uncertainty about prices made every business decision a … speculation on monetary policy. In magnitude, the total rise in the price level from the spurt in inflation to the five … of the 1970s inflation was the shadow of the Great Depression. The memory left by the Depression predisposed the left and …