We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …

We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …

inflation, the relationship between money and capital accumulation, and the Phillips curve. We also extend the benchmark model …

We study the redistributive effects of expected inflation in a microfounded monetary model with heterogeneous discount … framework expected inflation is detrimental to capital accumulation. Second, expected inflation affects borrowing and lending … inflation is larger when capital is used as collateral …

. Finally, the effectiveness of monetary shocks depends on the steady-state level of inflation. The higher the average level of … inflation (money growth), the bigger the impact effect of a shock of a given size but the smaller its cumulative effect. These …

inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …

selection approach, the study interacts money supply, interest rate, economic growth, and inflation rate, among themselves and … inflation rate as the impact factor. On the basis of the above findings and the evidence from other studies, lending and … inflation rate generated substantial destabilizing impacts on the economic growth, suggesting that the monetary authorities …

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

money and inflation. When analysing the full sample of countries we find a strong positive relation between the long …-run inflation and money growth rate. The relation is not, however, proportional. The strong link between inflation and money growth … is almost wholly due to the presence of high (or hyper-) inflation countries in the sample. The relationship between …

This paper studies the effect of inflation on welfare in a monetary economy with price dispersion and consumer search …. When facing greater price dispersion with higher inflation, consumers search harder for lower prices, and increased search … frictions to incorporate the interrelationship of money, search, and endogenous price dispersion. Inflation aspects welfare …