Some channels through which increased inflation tends to reduce economic growth, and vice versa, are studied within a … potential impact of inflation on: (a) saving through real interest rates (or uncertainty); (b) the income velocity of money; (c …) the government budget deficit through the inflation tax and tax erosion; and (d) efficiency in production through the …

Countries that have pursued distortionary macroeconomic policies, including high inflation, large budget deficits and …

This paper reconsiders the relationship between inflation, economic growth and external debt, and discusses various … channels through which (a) increased inflation tends to reduce growth and raise foreign indebtedness over time and (b …) declining growth tends to amplify both inflation and debt. Based on a simple model of the simultaneous determination of …

Import competition from China is pervasive in the sense that for many good categories, the competitive environment that … pronounced increase of aggregate US producer price inflation. …

Intergenerational inequality and old-age poverty are salient issues in contemporary China. China's aging population …

We estimate the effect on economic development of China's industrial policy, in particular, the establishment of …

liquidity is inefficient. The reason is that liquidity affects prices and the welfare of others, and creators do not internalize … government must restrict the creation of liquidity by the private sector. …

During the recent financial crisis, central banks have provided liquidity and governments have set up rescue programmes … bank suffering from liquidity shocks, we find that the unregulated bank keeps too much liquidity and monitors too little. A … central bank can alleviate the liquidity problem, but induces moral hazard. Therefore, we introduce an additional authority …