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This paper deals with the interaction of fiscal and monetary policy when the central bank is pursuing a price stability-oriented monetary policy. In particular, we study the durability of the price stability regime when public debt accumulates as a result of ultimately unsustainable deficits....
Persistent link: https://www.econbiz.de/10014111166
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; quantitative easing ; money supply ; deflation ; inflation ; monetarism ; economic stability …
Persistent link: https://www.econbiz.de/10009612747
This study contributes to the ongoing discussion surrounding the recent upswing in inflation by presenting an … analytical framework and empirically examining inflation trends in Italy. Its primary aim is to unveil the underlying causes …, distributive repercussions, and mechanisms through which inflation spreads. We adopt a cost-push and distributive conflict …
Persistent link: https://www.econbiz.de/10014529503
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010291905
This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that …, we find that allowing for a distribution of contract lengths can yield a more plausible explanation of inflation …
Persistent link: https://www.econbiz.de/10011604718
Economists on "The evolving inflation process" which the BIS hosted on 28-29 October 2005. The paper first discusses efforts to … document the univariate statistical properties of inflation and how they have changed over the last decades. It then reviews … studies of disaggregated or micro inflation data and evidence from surveys of firms concerning their pricing behaviour. Using …
Persistent link: https://www.econbiz.de/10003287209
Persistent link: https://www.econbiz.de/10003478403
economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They … formulated the first unemployment/price-inflation version of the Phillips curve and were the first to interpret the Phillips … careful reconstruction and assessment of their original formulation, documenting the close relationship between the wage-inflation …
Persistent link: https://www.econbiz.de/10010510926
Turkey has experienced high and persistent inflation for more than twenty years. This chapter attempts firstly to … survey the extremely broad literature on theories of inflation, in order to be able to classify, understand and discuss the … dynamics of inflation more carefully. In this chapter, it is mainly argued that inflation may be interpreted as a net result of …
Persistent link: https://www.econbiz.de/10010517438