turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our … Greece had simply remained at its pre-crisis level. On the other hand, we show that, in the absence of the official fiscal …

countries is examined applying a fractional cointegration method which tests for the possible existence of a long …

precedents and proposals have included austerity, haircuts and the generation of inflation. Each way has advantages and …, hyperinflation in Germany after World War I, inflation in Argentina since the 1980s, currency reform in Germany after WW II, and …

The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …

This paper explores communication strategies for anchoring households’ medium-term inflation expectations in a high … inflation environment. We conducted a survey experiment with a representative sample of 4,000 German households at the height of … the recent inflation surge in early 2023, with information treatments including a qualitative statement by the ECB …

current operating procedures and make monetary policies more effective in fighting inflation. …

This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the literacy treatment. In the … the literacy treatment, incorporate quantitative information differently into their inflation forecasts. We find that the …

convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include … productivity increases in Greece. …

interdependency of national monetary policies, which is sometimes measured by the degree of inflation transmission across borders. In … this paper, we examine how inflation rates in two small open economies, namely Hong Kong and Singapore, interact with those … model is used to study the inflation dynamics. It is found that Hong Kong and Singapore inflation rates, but not the U …

This paper revisits the Fisher hypothesis by estimating fractional integration and cointegration models that are more …, linking nominal interest rates to inflation; however, there is no evidence of the full adjustment of the former to the latter …