income inequality and inflation. The model''s key features are unequal access to both inflation-hedging opportunities and the … political process. The model predicts that inequality and ''elite bias'' in the political system interact to create incentives … for inflation. The paper''s empirical section focuses on this predicted interaction effect. The identification strategy …

inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …

This paper aims to improve the understanding of U.S. inflation dynamics by separating out structural from cyclical … effects using frequency domain techniques. Most empirical studies of inflation dynamics do not distinguish between secular and …) and new Keynesian Phillips curve (NKPC) models of inflation, and conclude that the long-run secular decline in inflation …

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation … while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore … whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks …

Inflation-targeting central banks have a respectable track record at explaining their policy actions and corresponding … inflation outturns. Using a simple forward-looking policy rule and an assessment of inflation reports, we provide a new … methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools-inflation …