Search Results

Showing results 1 to 10 of approximately 109.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:Inflation 

Working Paper
Oil Prices, Gasoline Prices and Inflation Expectations: A New Model and New Facts

The conventional wisdom that inflation expectations respond to the level of the price of oil (or the price of gasoline) is based on testing the null hypothesis of a zero slope coefficient in a static single-equation regression model fit to aggregate data. Given that the regressor in this model is not stationary, the null distribution of the t-test statistic is nonstandard, invalidating the use of the normal approximation. Once the critical values are adjusted, these regressions provide no support for the conventional wisdom. Using a new structural vector regression model, however, we ...
Working Papers , Paper 2025

Consumers’ and Economists’ Differing Inflation Views Can Complicate Policymaking

Economists and consumers likely think of different concepts when they consider inflation. Economists typically focus on the underlying trend that monetary policy can steer. U.S. consumers appear to think instead about unpredictable changes in prices most relevant to their regular decision-making.
Dallas Fed Economics

Journal Article
Why Has Inflation Persistence Declined?

Macro Bulletin

Speech
The Outlook for the Economy and Monetary Policy; 02.13.19; University of Kentucky Gatton College of Business and Economics, 2019 Economic Outlook Conference, Lexington, KY

The Cleveland Fed is one of 12 regional Reserve Banks distributed across the country that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. This regional structure helps us to collect information from around the country so that our monetary policy decisions can take into account the diversity of the American economy and its people. I am very grateful for the many contacts throughout our District who generously share with us their insights into business activity, labor markets, and financial conditions. This timely information is collected through our ...
Speech , Paper 105

Fed’s New Inflation Targeting Policy Seeks to Maintain Well-Anchored Expectations

The Fed’s evolving understanding of the economy and its reassessment of the natural rate of interest have led to arguably the most significant policy change since 2012.
Dallas Fed Economics

Working Paper
Rising Market Concentration and the Decline of Food Price Shock Pass-Through to Core Inflation

Using a vector autoregression that allows for time-varying parameters and stochastic volatility, we show that U.S. core inflation became 75 percent less responsive to shocks in food prices since the late 1970s. The decline in the pass-through of food price shocks to inflation is a result of a decline in both volatility and the persistence of food price changes in inflation. This decline in pass-through coincides with a period of increasing concentration in the food supply chain, especially among U.S. grocery retailers and distributors. We find that 60 percent of the variation in pass-through ...
Research Working Paper , Paper RWP 19-2

Newsletter
How Do We Measure Inflation?

One goal of monetary policy is price stability, which requires a measure of prices over time. The gold standard maintained the stability of one price, that of gold. Today, we need to consider a broad array of prices. The Federal Reserve?s policymaking body, the Federal Open Market Committee (FOMC), uses the personal consumption expenditures (PCE) deflator as its index of prices. But what is it, and why does the Fed consider this measure the most suitable?
Chicago Fed Letter

Global Perspectives: John B. Taylor on the Taylor Rule, Accommodative Policy, Low Interest Rates and Expanded Central Bank Mandates

Taylor and Dallas Fed President Robert S. Kaplan discussed the origins of the Taylor Rule, the dangers of holding monetary policy too accommodative for too long, the distributional effects of low interest rates and expanded central bank mandates.
Dallas Fed Economics

Report
The Monetary and Fiscal History of Argentina, 1960-2017

In this chapter, we review the monetary and fiscal history of Argentina for the period 1960?2017, a time during which the country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises. All told, between 1969 and 1991, after several monetary reforms, thirteen zeros had been removed from its currency. We argue that all these events are the symptom of a recurrent problem: Argentina?s unsuccessful attempts to tame the fiscal deficit. An implication of our analysis is that the future economic evolution of Argentina ...
Staff Report , Paper 580

Report
2013 Annual Report Why Inflation Is Very Low, and Why It Matters

One of the Federal Reserve?s mandates is maintaining stable prices. During my more than three decades in the Federal Reserve System, the focus has been primarily on avoiding high and variable inflation, and over most of that period, the Federal Reserve has successfully fulfilled its objective to keep inflation in check. More recently, however, our attention has turned to a less familiar concern?persistently low inflation. While high inflation has well-known costs for economic performance, the problems posed by persistently low inflation can be equally harmful. As its title promises, this ...
Annual Report

FILTER BY year

FILTER BY Content Type

Working Paper 43 items

Journal Article 20 items

Speech 16 items

Newsletter 5 items

Discussion Paper 4 items

Report 4 items

show more (3)

FILTER BY Author

Mester, Loretta J. 9 items

Bundick, Brent 7 items

Smith, Andrew Lee 6 items

Dolmas, Jim 5 items

Espino, Emilio 4 items

Kozlowski, Julian 4 items

show more (143)

FILTER BY Jel Classification

E31 34 items

E52 24 items

E30 8 items

E62 6 items

F34 6 items

F41 6 items

show more (50)

FILTER BY Keywords

Inflation 109 items

Monetary Policy 38 items

Economic Conditions 11 items

Fiscal Policy 8 items

Labor Markets 7 items

Economic Growth 7 items

show more (187)

PREVIOUS / NEXT