In most monetary models of economic growth, higher long-run inflation is associated with a decline in the growth rate …-sector model of Jones and Manuelli (1995). With the standard cash-in-advance constraint on consumption, higher inflation results in …

We introduce an approach for the empirical study of the quantity theory of money (QTM) that is novel both with respect … directly on the relationship between the rate of change of the money stock and inflation. We believe that this is an inferior … instrument for the long-run control of inflation. An important finding that contradicts all of the previous literature is that …

. The optimal monetary policy literature and the optimal simple rules often labeled flexible inflation targeting assign all …

increases with inflation, as is consistent with empirical evidence. The model derives a rich array of non-trivial effects of … inflation on the equilibrium deposit and the bank's portfolio …

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …

conclusions that arise from the model. In the new model, the level and the variability of inflation is higher than in the Calvo … model with no selection effect. Attempting to lower inflation's variability results in a significant increase output …'s variability, without changing inflation's variability much …