inflation, both as an objective and as an intermediate instrument. We want to show that other variables like employment can be … that they can be function of employment only, which then dominates inflation for use in the policy rule. …

should respond more than one for one to inflation. This model yields explicit solutions for the optimal rule. We find that … underlying shocks, or which measure of inflation is used. In general the optimal elasticity of the interest rate with respect to … inflation needs not be greater than one. …

In the late 90's, after severe financial and economic crisis, accompanied by inflation and exchange rate instability …, Eastern Europe emerged into two groups of countries with radically contrasting monetary regimes (Currency Boards and Inflation … relationship between inflation, output growth, nominal and real uncertainties from 2000 till now. In other words, we test the …

This paper o¤ers to investigate both the Friedman's and Mishkin's hypotheses on the consequences of inflation on output … countries, we distinguish between short-medium and long run and between headline and core inflation. We get two main results …. First, nominal uncertainty and inflation are positively linked. Second, headline inflation negatively Granger causes out …