inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

examines whether they can be used to analyse the inflation-control problem. Given the close correspondence between the exchange … rate and inflation-targeting problems, the target-zone literature may help us better understand inflation dynamics and … central-bank credibility in the presence of inflation-control targets or ranges. While we find many common elements across the …

inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework … effects of inflation. This omission is likely to be important since the welfare costs of inflation depend not only on … assessing the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and …

-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government … measured by (1 - k), is positively related to trend inflation, and 2) when prices are sticky, k has significant effects on the …

inflation response to money shock, the liquidity effect and the sluggish price adjustment) are not robust. In an endogenous …

rate as the real policy rate consistent with output at its potential level and inflation equal to target after the effects … rate below neutral will be required to maintain inflation sustainably at target. …

markets react to inflation by revaluing their exchange rates by 10 per cent. This affects the outlook for commodities only …