This paper provides the algebra and a panel diagram to attempt to examine the so-called inflation- unemployment (or …

Since the early 1980s, the United States economy has changed in some important ways: Inflation now rises considerably … less when unemployment falls and the volatility of output and inflation have fallen sharply. This paper examines whether … volatility of monetary policy reaction functions can account for most or all of the change in the inflation …

economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They … formulated the first unemployment/price-inflation version of the Phillips curve and were the first to interpret the Phillips … careful reconstruction and assessment of their original formulation, documenting the close relationship between the wage-inflation …

consider the performance of optimal rules when the underlying relationship between inflation and the output gap may be … nonlinear. In particular if the inflation-output trade off exhibits nonlinearities this will impart a bias to inflation when a … distribution of output and inflation, we show that the sign of the skewness of the distribution of inflation and output depends …

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 …

Ramsey optimal policy models the persistence of inflation, output gap and federal funds rate without requiring two additional … parameters for inflation indexation and habit persistence. The number of reduced form parameters is larger with Ramsey optimal …

provides a new perspective on the policy roots of inflation in developed economies. More precisely, the paper demonstrates that … if the distribution of the supply shocks is normal, then the reduced form solution for inflation implies a positive (or … negative) relation between average inflation and the variance of shocks. We argue that the evidence offered in support of this …