This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. We explore a wide range of different definitions of money, including different methods of aggregation and different...

It's not the latest jump in oil prices that takes a toll on the economy but the uncertainty over what will happen in the future. But getting a handle on such uncertainty is a difficult task.

Central bankers believe that low inflation and long-term economic growth go hand in hand. The evidence about the costs of inflation, however, is not as clear-cut.

Recent trends in empirical macroeconomic research - embedding long-run relationships in models via cointegration, modeling the correlation between seasonal cycles and business cycles, building endogenous growth models, and the interest of policymakers in inflation targeting - have increased the...

It is not uncommon to observe negative interest rates during uncertain times, when investors flee to safety. But the existence of negative market yields provides no support for policies in which central banks set negative interest rates on deposits held at a central bank.

Most central banks implement quantitative easing through asset purchases. Sweden took a different path.

Politicians, market participants, and economists have argued about whether the increased trading induced by the growth of index funds over the past decade is a cause of high commodity prices.