panel regressions, the paper finds a negative relationship between legal central bank independence (CBI) and inflation. This … result holds for three alternative measures of CBI, and after controlling for international inflation, banking crises, and … paper fails, however, to find a causal relationship running from CBI to inflation. …

reducing inflation from three-digit annual rates in the 1990s to single-digit territory in 2004. The paper also discusses the …

inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …

welfare, since it often reduces the union’s utility. In particular, we show that an inflation-neutral union will never find it …

We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely …

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker’s disinflation (1979-1982). My … the behavior of inflation expectations - agents expected shocks to persist in the pre-Volcker period, but not in the post …

, transparency reduces inflation and the output gap, but at the cost of higher macroeconomic volatility. …