Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …

Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a ‘pure’ spread shock which, leaving … inflation. Second, conditional on available estimates of the impact of the FED’s and the Bank of England’s asset purchase …

importance of wage bargaining above the firm level, the automatic system of index-linking wages to past inflation, the limited …

-form) properties of the economy. Based on estimated models for the Great Inflation and the most recent period, I show that, as a … played by monetary policy in exacerbating the Great Depression, causing the Great Inflation, or fostering the Great …

We characterise the evolution of the U.S. unemployment-inflation trade-off since the late XIX century era via a … Bayesian time-varying parameters structural VAR. The Great Inflation episode appears as historically unique along several … inflation and unemployment’s deviations from equilibrium–was, during those years, clearly out of line with respect to the rest …