This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their … excessive money creation. It is shown that even without policy precommitment or aversion to inflation, the availability of … alternative currencies can support an equilibrium with a finite, time consistent inflation rate …

Chinese inflation, particularly non-food inflation, has been surprisingly modest in recent years. We find that supply …-food inflation, as has foreign demand for Chinese goods. Domestic demand and monetary conditions seem less important, possibly … reflecting a large domestic output gap generated by many years of high investment. Inflation varies systemically within China …

This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …

declined to 2.3 percent, with falling tourist arrivals and weakening consumer and business confidence. Inflation has risen to 2 ….9 percent year-over-year in December on account of indirect tax increases, but core inflation remains low. The current account …

, mainly owing to far-reaching macroeconomic and structural reforms. Despite negative shocks, growth has been robust, inflation … large private capital inflows. Average inflation was 6.3 percent, stemming mainly from fuel and imported food price …