seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

In most monetary models of economic growth, higher long-run inflation is associated with a decline in the growth rate … inflation results in lower growth and employment in all three models, while, in the cash-credit good economy of Dotsey and …

This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four … different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage cuts that would have … happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country's inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate …

and beyond the determinants of currency invoicing (i.e., inflation rate, inflation volatility, foreign exchange market … by a drop in inflation volatility. …

countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity … productivity are the main channels through which trade openness affects inflation. …This study evaluates the role market competition plays in determining inflation based on sector-level data from OECD …

import prices only to a small extent, it may have a substantial impact on inflation, as it exerts a sizeable impact on the …

compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …