consequences of this seigniorage tax from the consequent inflation. But another goal of this study is to demonstrate that inflation … increased quantity of now debased coins (of the same face value) quickly enough, before the full force of inflation was felt …

Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this … inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is … contrast to previous work, reducing inflation generates large growth gains. These large gains cannot be easily reproduced by …

real wages increased, both from a rise in the marginal productivity of labour and also from a corresponding fall in the … produced here reveals cycles of inflation and deflation from the late 12th to early 16th century: with a sharp deflation before … the Black Death, an equally severe inflation for the quarter century following the Black Death, which was then followed by …

Many pricing models imply that nominal interest rates contain information on inflation expectations. This has lead to a … large empirical literature that investigates the use of interest rates as predictors of future inflation. Most of these … focus on the Fisher hypothesis in which the interest rate maturity matches the inflation horizon. In general forecast …

. Incorporating shocks to money growth and productivity, we calibrate the model to the US time series data to examine the model …

) – presumably altered the land:labour ratio sufficiently to increase the marginal productivity of labour and thus its real wage … productivity of agricultural labour. But the evidence produced in this study demonstrates that the Black Death was followed, in … monetary forces in producing deflation in the second and final quarters of the fourteenth century, but severe inflation in …

merchants spent their increased supply of coins quickly, before any ensuing inflation eroded those gains. This study further …