to solve these problems, we propose modifying the central bank's objective to (i) include state-contingent inflation … targets, (ii) target a measure of inflation that overweights non-tradable inflation …

of a weaker economy with higher unemployment and lower inflation and possible benefits from a lower probability or …

-regulated financial institutions over decades after the hyper-inflation crisis, and the deep and extensive integration into the global … during this time, from a low income high-inflation developing economy in the 1970s, to a medium to high income stable …- inflation advanced economy in the 2000s, while increasingly integrated into the world economy. The extraordinary events surveyed …

This paper discusses three policy tools to mitigate jobless recoveries during financial crises: inflation, real … of inflation is sizably lower real wages. Hence, inflation does not prevent wage earners as a whole from getting hit by …/nontradables), from output peak to recovery point, displays a statistically significant relationship with inflation or jobless recovery …

We analyze the impact of fiscal and monetary stimulus in an economy with mortgage debt, where inflation redistributes … inflation, increasing consumption demand and house prices. The power of fiscal stimulus grows when borrowers are more indebted …. We then show quantitatively that transfers followed by easy monetary policy cause a surge in inflation which helps …

's history has been characterized by low growth, high inflation and recurrent external crises. In Section, I deal formally with …