we perform the preliminary unit roots analysis and the selection of the cointegation rank using parametric and bootstrap …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …

. This allows to weaken the negative effect of the inflation tax such that monetary shocks exert a positive effect on output … dynamics. The nominal wage contract model is able to mimic the correlation of inflation and real balances with output. It also … lowers the standard deviation of inflation relative to that of output. Further, the variance decomposition analysis indicates …

efFect of the so-called inflation tax such that monetary shocks hzve a positive hump-shaped effect on output. The variance … correlation between output and inflation and real balances observed in Germany. We also propose an evaluation of the effects of …

This paper aims at investigating relationships between inflation and macroeconomic fluctuations. The theoretical debate … associated to this question is important: Whereas the Keynesian expect a countercyclical behavior of inflation, Real Business … are considered) leads to two major results : Prices stability is destabilizing and inflation exhibit a procyclical …