inflation when there is no perceived commitment to reduce the fiscal deficit. The model is based on a modified version of the … current consumption leads to an equal increase in inflation. The timing of this increase varies with the size of the deficit … inflation. Three policy conclusions are offered. …

This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was … financial stability. Finally, this paper makes a case against increasing the central banks’ inflation target. …

money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non … policy decisions by providing a clearer narrative of the relative role of money in the interaction with other economic and …

in credit allocation, increased independence for the central bank, and a deepening of money and securities markets. Such …

, inflation, and fiscal policy. The rapid expansion is supported by an outward-oriented development strategy and sustained high …

real effective exchange rate of the euro are within range of medium-term equilibrium. Stabilizing inflation below 2 percent …

the linkages between finance, money, and the real economy. Sources of market imperfections in finance are identified and …

, 2009), this paper discusses various options to move towards a new benchmarking system in the money market. It proposes a …