assumption improves the fit of the inflation equation. Third, this assumption is necessary for getting an important reduction of …

return on assets is determined by incentives eliciting voluntary debt repayment. I show that the inflation rate or, more …, money is used in equilibrium and the optimal inflation rate is positive. …

monetary policy in the United States, in particular its interaction with the formation of inflation expectations and the … linkages between monetary policy, inflation expectations and the behaviour of CPI inflation. We use Livingston Survey data for … expected inflation, measured at a bi-annual frequency, actual inflation, unemployment and a nominal interest rate to estimate …

sales; (iv) price changes related to sales and product replacements are less driven by inflation variations than regular … price changes; (v) the monthly inflation rate is correlated to the frequencies of price decreases and increases. The …