central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …

stabilizing role of monetary policy, we show that when the monetary policy rule depends on expected inflation only, a more active …

authority decides instead to fix the nominal interest rate regardless the inflation, decreasing the level of the nominal …

The fiscal theory of the price level says that the price level can be made determinate if the government uses fiscal … are specific to the "Ricardian" models that have been used to develop the theory. By moving to "non Ricardian" models we …