We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation …

This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …

rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but …

the inflation tax. Accordingly, continued effort is likely to be needed to attain a fiscal position that is sustainable …

of inflation variability, as predicted by the fiscal theory of the price level. … sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries …

consistently. Overnight interest rates were raised sharply in early 2004 and lowered subsequently as inflation declined, with real …