by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

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 …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

current burst of inflation in the wake of the COVID-19 pandemic and the inflation that Americans experienced 100 years ago … announced aggressive plans to reduce its massive balance sheet. Expectations are that tightening will continue until inflation … between the 1919 Inflation and COVID-19 Inflation and attempt to time the market. This is a risky proposition for long …

Post-covid inflation was predominantly driven by unexpectedly strong demand forces, not only in the United States, but … inflation near its 2-percent target---would have severely hampered an already anaemic recovery …

Empirical evidence suggests consumers rely on their shopping experiences to form beliefs about inflation. In other …. Learning by shopping anchors households' beliefs about inflation to its past, causing disagreement with firms over the value of … inflation, increases the degree of anchoring of households' inflation expectations, and flattens the slope of the Phillips curve …

pertinent institutions in early work on political business cycles, and then proceeds to a discussion of the inflation … inflation policy targets. The last section addresses current developments. These include the proper choice of monetary policy …