Long-term bond yields contain a risk-premium, an important part of which is compensation for inflation risks. The …

policy is not constrained by the ZLB. The neutral rate - the level of the policy rate consistent with stable inflation and …

It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be …

frequency as well as the size of wage adjustments. In particular, this paper proposes a structural model of wage inflation … goodness of fitness as well as in the ability to explain the observed reverse dynamic cross-correlation between wage inflation …

frequency as well as the size of wage adjustments. In particular, this paper proposes a structural model of wage inflation … goodness of fitness as well as in the ability to explain the observed dynamic correlation between wage inflation and the output …

It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be …

and does not require targeting a positive average rate of inflation. Interestingly, the presence of binding real rate …

This paper seeks to understand dynamics of inflation and marginal cost (labor share) in models that account for the … productivity growth particularly for the US. We conclude that a better understanding of the inflation-unemployment tradeoff …

optimal policy is to reduce the real rate by generating inflation expectations. This is achieved by committing to increase …’, i.e., average output and inflation turn out to be higher than their target values. Calibrating the model to the US … economy we find that the quantitative importance of the average effects on output and inflation are negligible. Moreover, the …