equilibrium framework in which lump-sum taxes are absent. The policies analyzed are an inflation tax,commercial policy, and an … inflation tax for small revenue needs. Furthermore, if the policy target were allocative, we would tend to use only one policy …

as the manifestation of excessive monetary injections [Krugman-Flood-Garber], the fiscal theory of inflation [Sargent …

This paper investigates budgetary rules for an economy characterized by inflation and volatile relative prices. We view … full ex-post indexation. Hence, one of the costs of inflation is that nominal contracts lose their disciplining role in …-predicting the realized one -- higher inflation increases the budget error and the average budget error is positive …

Sovereign borrowing during inflation surges is a litmus test of a government's ability to withstand and navigate … inflation surges and how policy practices affect their ability to weather inflation shocks. We find that governments rely more … on foreign-currency debt from foreign investors during periods of high inflation. This pattern is particularly prevalent …