constrained by the state-imposed credit plan for working capital. Our analysis indicates the weakness of credit control and … device. The existence of credit and currency controls tends to make devaluation contractionary. Furthermore, because of …

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

pronounced increase of aggregate US producer price inflation. …

This paper investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for … countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation …

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer’s (2009) model in …

of this margin of adjustment for the response of inflation to shocks. Across a range of empirical exercises, we find …

networks. Starting with country-level data, we find that both producer price and consumer price inflation rates move more …