inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization … forces also lead monetary policy to be more aggressive with regard to inflation fluctuations but, at the same time, more …

This paper provides an explanation for the run-up of U.S. inflation in the 1960s and 1970s and the sharp disinflation … by low inflation. However, prolonged episodes of high inflation ending with rapid disinflations can occur when … policymakers underestimate both the natural rate of unemployment and the persistence of inflation in the Phillips curve. I estimate …

I investigate the causes of the high inflation Argentina experienced from 2007 to 2015. To do so, I estimate the … I obtained for other economies in the region were inflation was kept under control. I find that there are some country … specific patterns in Argentina that can explain the high inflation observed during the analyzed years. First of all …