. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …

banks and net capital inflows, being absorbed either by rising asset prices, newly issued bonds or more money being held … prices and goods with prices controlled by the government we show that inflation in Japan has been kept low by mainly three …The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy …

certain types of “money assets” may serve both as an indirect hedge against inflation in the two interpretations of the word …The present work offers a review on two divergent schools of thought regarding the subject of money and highlights why … understanding it is important to grasp the workings and nature of the concept of money. We adopt a spontaneous order perspective on …

alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on …

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 …

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the … inflation rates, both across countries and over time. Accounting for the role of GVCs, we also find that the conventional trade …

inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange … across a range of econometric tests, input-output linkages account for half of the global component of PPI inflation. We … preserves fat-tailed idiosyncratic shocks and thus leads to a fat-tailed distribution of inflation rates, i.e., periods of …

and services. We combine the Harmonized Index of Consumer Prices with indices for asset prices, such as stocks and real … estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

aggregate demand gains momentum. If inflation also has inertia, the central bank still overheats the economy during the low …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …In most European countries, money wages are given in collective agreements or individual employment contracts, and the …