plays no role. Trust does play a role but requires a lower bound on efficiency. Stationary inflation must be positive and …

Using a sample of about 160 countries over the last thirty years we test for the quantity theory relationship between … money and inflation. When analysing the full sample of countries we find a strong positive relation between the long …-run inflation and money growth rate. The relation is not, however, proportional. The strong link between inflation and money growth …

between lack of government commitment and high inflation, which characterizes representative agent models of optimal fiscal …

inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

Cross-country evidence on inflation and inequality suggests that they are positively correlated. I explore the …

inefficiently provided, inside money competition plays a disciplinary role by providing an upper bound on equilibrium inflation …

monetary union increases with the union's level of wage rigidity as well as its tolerance of inflation variability. Taking into …

yearly basis following the 1985 stabilization of inflation. The data developed in the paper makes it possible to compare the … growth targets, in addition to inflation targets. …

We develop a theory that rationalizes the use of a dominant unit of account in an economy. Agents enter into non …