The fiscal gains from, and hence the political incentives for, an increase in the inflation rate of ten percentage … inflation increase would have been even larger, however, and would thus have reduced net welfare. Possible institutional reforms …, aimed at making the political costs of inflation more equal to the social costs, are presented and discussed. …

The thesis of this paper is that political differences between parties are a major explanation of inflation and … between which party was in power and the level and variability of inflation in the same period for these two countries. Fourth …, the theory provides a rationale for the commonly observed relationship between inflation and its variability. …

From 1970 to 1985, Israel experienced high inflation. It rose in three jumps to new plateaus and eventually exceeded … of fallen bank shares caused the last big jump in inflation that occurred in October 1983. Bank shares had just collapsed …. Because that was foreseen, inflation immediately rose as predicted by the unpleasant monetarist arithmetic of Sargent and …

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU … is a significant determinant of inflation in a simple backward-looking Phillips Curve that incorporates import prices …

which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

monetary policy usually affects both inflation and unemployment, even when all structural parameters of the economy and of … features, such as the degree of centralization of wage bargaining, labour unions' inflation aversion and the degree of … suggests that the switch to a monetary union is likely to make labor uur unions more aggressive, increasing unemployment …

, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of … by governments concerned with the costs of inflation and unemployment, as well as with redistribution to particular … changes in either labour taxes or in unemployment benefits to labours costs is larger the higher are those institutional …

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the … dynamics of inflation. We combine this model with the `exchange-rate-regime' model of inflation and examine the experience of … the United Kingdom. Outside the fixed exchange rate regime of Bretton Woods, persistently high inflation can be attributed …