The Great Inflation Drift

Marvin S. Goodfriend · Robert G. King

21 citations0/0 files storedNational Bureau of Economic Research

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

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benefitted from presentations at Cornell University, the Federal Reserve Bank of Kansas City, the Institute for International Economic Studies at Stockholm University, and the Swedish Riksbank.We thank Susanto Basu for providing us with a time series on aggregate technical change, Torsten Persson, Mathias Trabandt and Michael Woodford for valuable discussions on related matters, Michael Siemer for research assistance,

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1983Staggered prices in a utility-maximizing framework 2005INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY 1996Staggered Prices in a Utility-Maximizing Framework 1988Trends and random walks in macroeconomic time series 1981A new approach to decomposition of economic time series into permanent and transitory components with particular attention to measurement of the ‘business cycle’2005The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models 2006Are Technology Improvements Contractionary?2001Are Phillips Curves Useful for Forecasting Inflation?

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2009Trend inflation and macroeconomic volatilities in the post-WWII U.S. economy 2016Is the Hybrid New Keynesian Phillips Curve Stable? Evidence from Some Emerging Economies

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