to study how dispersed information impacts inflation and inflation expectations, without imposing strong structural … assumptions on the aggregate marginal cost. We derive a Phillips curve that links inflation, average inflation forecast (i.e., a … dispersed information in generating inflation inertia and predictable average nowcast and forecast errors. The estimated effect …

We document empirical regularities of disaggregated inflation and consumption and study whether multisectoral New … Keynesian models can explain them. We focus on higher moments of the inflation and consumption growth distributions as well as … on the contemporaneous comovement of these two variables. We find that the sectoral distributions of inflation and …

inflation surge, posing new challenges for monetary policy. Using a multi-sector model featuring upward labor adjustment … heterogeneity in inflation and output responses. Following an unexpected contractionary monetary policy shock, (constrained … significantly. At the aggregate level, monetary policy is thus more effective at curbing inflation when a larger proportion of …

We examine the link between inflation and the variability of relative prices in U.S. equity markets and in U.S. goods …

achieved by maximization of utility subject to budget constraint. An increase in inflation that is not accompanied by … about inflation which in turn requires appropriate modelling of inflationary behavior. This study assesses efficacies of … different versions of new Keynesian Phillips curve for capturing dynamics of CPI inflation. Estimation of different formulations …

changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary … an inflation turning point - beyond which its short-term (contemporaneous) impact on the primary balance starts being … the whole sample of euro area countries in 2022 (EA-19). Using an alternative measure of "inflation surprise" (available …

Reserve does not target inflation or react to "inflation signals." Rather, the Fed reacts to the very "real" signal sent by … the Federal Reserve largely ceased reacting to inflation or high unemployment, but continued to react when unemployment … controlling for the effects of inflation and unemployment …

In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a … to inflation and the output gap, we show that the empirically observed changes in U.S. inflation-gap persistence during … Benati's (2008) view that inflation persistence should not be considered a structural parameter in the sense of Lucas …

In a simple New Keynesian model, we derive a closed form solution for the inflation persistence parameter as a function … inflation and the output gap, we show that the empirically observed changes in U.S. inflation persistence during the period 1975 …) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …