rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show … findings for the inflation inertia in a model with capital adjustment costs and variable capacity utilization, the output …

and inflation in the member countries. Stress in a country is defined as the difference between the country's actual short …

stability has been fostered by improved monetary policy and by associated changes in the behaviour of inflation, which has …

countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …

With fixed costs of price and quantity adjustment, output effects of inflation depend on the elasticity of the firm …'s marginal real revenue. If the elasticity always exceeds minus unity, then output decreases with inflation, while if the … elasticity is always less than minus unity, then output increases with inflation. In the special case that the elasticity always …