This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that …, we find that allowing for a distribution of contract lengths can yield a more plausible explanation of inflation …

We study the low frequency comovements in unemployment, inflation and the federal funds rate in the U.S. From 1970 … buildup of inflation in the 1970's is that the Fed reacted to an increase in the natural rate of unemployment by conducting an … fed funds rate and inflation. We argue instead that the source of the inflation buildup in the 1970's was a downward drift …

capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment'. We then …

This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that …, we find that allowing for a distribution of contract lengths can yield a more plausible explanation of inflation …