This paper explores the importance for the measured link between money and inflation of measuring inflation from indices that include prices that, by virtue of being regulated, are unlikely to respond systematically to the forces of supply and demand. The inclusion of regulated prices for such...

This paper demonstrates that globalization, taking the form of a higher import component of consumption and a larger export component of GDP, is the cause of the apparent breakdown in the relationship between excess demand and inflation. Within a parsimonious empirical framework, we show that...

This paper demonstrates that globalization, taking the form of a higher import component of consumption and a larger export component of GDP, is the cause of the apparent breakdown in the relationship between excess demand and inflation. Within a parsimonious empirical framework, we show that...

In this research we model and estimate the effects on productivity downstream from information technology (IT) investments made upstream. Specifically, we examine how one industry's productivity is affected by the IT capital stock of its suppliers. These supplier-driven IT spillovers occur...