inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …

solutions such as the conservative central banker and optimal inflation contracts. Our theoretical model also shows how an … inflation targeting range should be set and how it should respond to changes in the nature of shocks to the economy …

sustained inflation are small relative to the costs of unemployment. If a temporary reduction in unemployment causes a permanent … increase in inflation, the present value of the resulting future welfare costs may well exceed the temporary short-run gain …. Previous analyses have underestimated the cost of a permanent increase in the inflation rate because they have ignored the …

uncertainty about the composition or timing of a stabilization. Under full certainty, inflation may rise, fall, or remain constant … there is no simple correlation between changes in the budget deficit and inflation. With uncertainty about the timing OF a … stabilization, the inflation rate will most likely exhibit fluctuations and may overshoot its steady state value, even when real …

inflation: the "myopic? government approach and the "weak" government approach. In myopic government models inflation is the … deliberate outcome of politicians strategic behavior, while in weak government models inflation is the unavoidable result of a … political developments in 76 countries for the period 1971-1982. Using a number of alternative definitions of the inflation tax …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

. Therefore, in periods with inflation generous tax depreciation provisions do not adequately promote private investment as … designed, but partly compensate such losses caused by inflation. …

consider the implications of a risk premium that arises from endogenous market segmentation driven by variable inflation rates …. In the absence of autocorrelation in inflation, the risk premium is constant. If inflation is correlated, however, the …

volatility) can have adverse effects on real output, through excessively high and persistent levels of inflation. Lack of … have also become a drag on real output. In order to promote growth, policies should be devised to control inflation; to …