variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …

various tax rates lead to lower budget deficits in the long run, as a result of an expanding tax base and lower unemployment …

estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …

The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent … of return variables. However, deviations of M2 from its long-run equilibrium value do not significantly enhance inflation …. Nevertheless, changes in M2 do contain information about future inflation, consistent with the view that the demand for money …