issue, we study a model of hyperinflation and learning in an attempt to better understand the volatility in movements of … expectations, money, and prices. The findings surprisingly imply that the dynamics under neural network learning appear to support … the outcome achieved under least squares learning reported in the earlier literature. Relaxing the assumption that …

inflation but also on the measure of inflation included in the rule and on whether the flexible-price good and the sticky …-price good are Edgeworth complements, substitutes or utility separable. We consider three possible measures of inflation: the … flexible-price inflation, the sticky price inflation and the core inflation; and we analyze three different types of rules: a …

minimizing the variance of inflation as the policy objective. Following current developments in the theory of fiscal … unique equilibrium. The responses of inflation to various structural disturbances in the constant money growth rate … nominal government debts (bonds) reduces the variance of inflation in the passive monetary-active fiscal regime. …

In this paper we show that a model featuring durables consumption, weak credibility, and sticky prices can explain many …

optimality of the Friedman rule in heterogeneous-agent economies. In the three models, zero inflation and zero nominal interest …