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

differential indicates that the real costs of inflation over time may be high for individual countries as well as for the world …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 …

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 …

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

monetary policy in a world with a dollar standard, defined here as a environment in which all traded goods prices are set in US … particular, the US is essentially indifferent to exchange rate volatility in setting monetary policy, while the rest of the world … the US and the rest of the world, the preferences of the US dominate. That is, the equilibrium is identical to one where …

pronounced increase of aggregate US producer price inflation. …

ongoing, inflation uncertainty seems to play a large role. Finally, while modern finance theory prices bonds and other assets …