Ever since the end of the Great Recession, the U.S. economy has experienced a period of mild inflation, which contradicts with the output-inflation relationship

This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession. A puzzle emerges when Phillips curves es

A collection of essays about the US Great Recession of 2007 to 2009 and the subsequent stagnation from prominent scholars.

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well below potential for an extended period. We

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, i