"harmful inflation" regime for higher nominal GDP growth rates, these results have strong implications for guiding recent …

not efficient. Inflation is detrimental to unemployment …

Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during … the period under review. Food inflation, energy inflation, firms’ marginal cost, and imported inflation account for most … exchange rate solely explains price changes in the composite consumers’ basket when inflation switches to high regime …

principal repayment) into the consumption and investment expenditures, as well as into the inflation-generating process. We … explore the way that finance influences the distribution effects of inflation in the demand-side of a money … inflation on the rate of employment; and that they might be conducive to a negative supply-side effect of employment on the …

We use an estimated medium-scale HANK model to investigate how the tradeoff between stabilizing inflation and … demand shocks via their exposure to highly procyclical profits-for them, stabilizing consumption and inflation coincide. The … poor are more vulnerable to supply shocks, hence aggressively stabilizing inflation is costly in terms of their consumption …

This paper examines the question of how conventional understanding of inflation relates to stickiness. Several results …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They … initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued … aiming to anchor drifting inflation expectations. Why might central banks want to look through supply-driven inflation …

We document empirical regularities of disaggregated inflation and consumption and study whether multisectoral New … Keynesian models can explain them. We focus on higher moments of the inflation and consumption growth distributions as well as … on the contemporaneous comovement of these two variables. We find that the sectoral distributions of inflation and …

This paper presents a new formulation of conflict inflation labeled the "pass-through" approach, which contrasts with … the existing "pressure balance" approach. The model generates Phillips styled inflation - unemployment dynamics that are a … hybrid of Keynesian and NAIRU dynamics. Conflict inflation arises when economic activity rises above the consistent claims …