Under the guidance of monetarist theory and the issue of dominance, this study is a survey of a rapidly growing … literature on Fiscal Theory of Price Level, which opens up new horizons in a non –Ricardian world and questions the effectiveness …

. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …

inflation is contained but wages and pensions arrears increase quickly. Such a situation is not sustainable in the short and we … and population welfare been suffering of both a persistent and high inflation during the four first years of its young …

equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …