This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …

the Riksbank has anchored inflation expectations at the 2 percent inflation target, and second, that the original version … of the Phillips curve, based constant inflation expectations, is appropriate to calculate the unemployment effects of … every year 1997-2011 misleading. We also show that the inflation targeting of the Riksbank 1995-2014 is successful compared …

This paper studies the impact of carbon pricing on firms' inflation expectations and discusses the potential …-level survey data. We document that a change in the price of carbon increases firms' inflation expectations. We then investigate … price growth respond similarly to inflation expectations. The effect on price expectations is more persistent than on actual …

We show that food price changes have a persistent impact on UK consumers' inflation expectations. Over 60% of … households report that their inflation perceptions are heavily influenced by food prices and display a stronger association … between their inflation expectations and perceptions. In other words, households emphasising the importance of food prices …

short some 20 million jobs. Further, there is no reason to believe that the current exceptionally low inflation rates are … transitory. Quite the contrary: without significant fiscal efforts to restore the bargaining power of labor, inflation rates are …

Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early … 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a … checkered history of managing inflation among many EMDEs, disinflation occurred across all regions. This paper presents a …

This paper presents a model that pictures how inflation is determined in a decentralized market process where prices … setters of sequential contracts. An important property of the model is that inflation thus can be explained without any … reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …

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 …

In this paper I evaluate inflation targeting for ten countries. The evaluation is based on unconditional as well as … conditional measures of the variance of inflation around target. With strict inflation targeting, expectations of the future … Price Index (CPI) when calculating the inflation rate, I find that the null hypothesis can be rejected for six of ten …