We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

yields' fluctuations and highlight the roles of a tight monetary policy stance and expectations of lower inflation in … negative inflation slope points to higher odds of a recession within a year. An aggressive removal of policy accommodation …

, 𝑢𝑡 ∗ , in the aftermath of the pandemic and characterize its implications for inflation dynamics. While the bulk of the … inflation surge is attributed to temporary supply factors, we also find an important role for current and expected negative … long-run price stability depends critically on expectations about labor market tightness. Using a variety of cross …

. The equilibrium concept is consistent with rational expectations under certain conditions, while also permitting multiple …

-kinked demand schedule for goods produced by firms. Our model can jointly account for the modest decline in inflation during the … Great Recession and the surge in inflation post-COVID-19. Because our model implies a stronger transmission of shocks when … inflation is high, it generates conditional heteroskedasticity in inflation and inflation risk. Hence, our model can generate …

aggregate demand gains momentum. If inflation also has inertia, the central bank still overheats the economy during the low …

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …

inflation differ over time. We show that the impact varies considerably over time, depends on the source of increased liquidity … (M1, M3-M1 or credit) and the underlying state of the economy (asset price boom-bust, business cycle, inflation cycle …

We propose and test a new explanation for the rise and fall of the Great Inflation, a defining event in macroeconomics … inflation and further lowered the real return to saving, setting off an inflation spiral. The repeal of Regulation Q broke the … spiral by sending deposit rates sharply higher. We document that the rise and fall of the Great Inflation lines up closely …