inflation expectations. We develop this measure using assumptions common in economic analysis of open economies. Using quarterly …

This paper examines the shift in the relation between the inflation rate and the rate of growth of real output which … possible lines of explanation: a) the new classical view of the output-inflation tradeoff, initially specified by Lucas;b) the … effect of supply-side shocks, such as energy prices; c) the effect of inflation variability on the natural rate of real …

This paper estimates the efficiency consequences of interactions between nominal tax systems and inflation in open … economies. Domestic inflation changes after-tax real interest rates at home and abroad, thereby stimulating international … capital movement and influencing domestic and foreign tax receipts, saving, and investment. The efficiency costs of inflation …

A high inflation process is usually due to a real imbalance and cannot be cured without a correction of real furamenta1 … inflationary equilibria by rationalizing a high inflation equilibrium as well as its stability as the outcomes of sub … nominal anchor in the various stages of stabilization to low (or zero) inflation. Finally the rationale for using multiple …

conducting analysis in a macroeconomic model that is designed to respect both neoclassical theory and empirical regularities …

; the magnitude of effects of low sustained inflation on real interest rates; the validity of analyzing monetary policy in …