This paper assesses the proximate causes of the post pandemic surge in US inflation, the Federal Reserve's real time …

environment affects how agents learn from new information. We show that as inflation rose in advanced economies, both households … and firms became more attentive and informed about publicly available news about inflation, leading them to respond less … to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries …

The Covid-19 Pandemic and policy response rattled the USTreasury markets. Conventional US Treasuries, inflation … yielded dis-torted inflation expectations estimates. Since the beginning of thepandemic, monetary policy kept nominal rates … larger wedge between nominal interest rates andreal interest rates in the inflation adjusted market. …

We study how individuals' memories of inflation shape their expectations about future inflation using both surveys and … the current inflation episode to last. Information treatments in which we show people prior disinflationary experiences … similarly strongly reduce inflation expectations of individuals on average and are often recalled as inflation memories months …

We study how individuals' memories of inflation shape their expectations about future inflation using both surveys and … the current inflation episode to last. Information treatments in which we show people prior disinflationary experiences … similarly strongly reduce inflation expectations of individuals on average and are often recalled as inflation memories months …

observation. In reality, the average rate of inflation is almost always positive and long-dated government securities are–as a … cash. Our paper identifies a set of empirically-plausible conditions under which a strictly positive inflation and …. Our paper provides yet another rationale for a strictly positive inflation target and the use of penalty rates at central …

aggressive monetary policies which results in less inflation volatility and persistence. We find this pattern emerges strongly …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to … staggered wage contracts with time discounting), the price adjustments to each successive change in the money supply are never …

In many countries, low and stable inflation is the focus of monetary policy. Recent empirical evidence from developing … countries indicates, however, that the costs of reducing inflation are disproportionately borne by women. This paper seeks to …