This paper revisits the phenomenon of stagflation. Using a standard New Keynesian dynamic, stochastic general … equilibrium model, we show that stagflation from monetary policy alone is a very common occurrence when the economy is subject to … stagflation in the baseline model is essentially eliminated. In contrast with several other recent papers that have focused on the …

This paper examines whether monetary shocks can consistently generate stagflation in a dynamic, stochastic setting. I … possibility of changes in the monetary regime greatly improves the ability of money to generate stagflation. This is true whether … the regime actually changes or not. If the monetary regime changes on average once every ten years, stagflation occurs in …

This paper revisits the phenomenon of stagflation. Using a standard New Keynesian dynamic, stochastic general … equilibrium model, we show that stagflation from monetary policy alone is a very common occurrence when the economy is subject to … stagflation in the baseline model is essentially eliminated. In contrast with several other recent papers that have focused on the …

This paper revisits the phenomenon of stagflation. Using a standard New Keynesian dynamic, stochastic general … equilibrium model, we show that stagflation from monetary policy alone is a very common occurrence when the economy is subject to … stagflation in the baseline model is essentially eliminated. In contrast with several other recent papers that have focused on the …