countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …

substitutability on exchange rates, international adjustment and the inflation tax are discussed. The paper also reviews the empirical …

the elasticity is very small for interest rates below 5% suggests that the welfare costs of inflation are small. We also …

is irrelevant for monetary policy because central banks affect economic activity and inflation by (i) controlling a very …

This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and … uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role … does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging …