Recent work on money and endogenous growth finds modest welfare costs of inflation. Furthermore, high inflation reduces … rate of inflation depending on the elasticity of labor supply. Considering the transition dynamics following a change in … the monetary policy, the optimal quarterly inflation rate is found to amount to approximately 3.5% in the benchmark case …

is constructed for the German monetary sector based on M3, GNP, an inflation rate, a long-term interest rate and a short …-term rate which represents the policy variable of the DBB. Moreover, import price inflation is included as an exogenous variable …

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

inflation, a finding that is at odds with the assumption of constant indexation parameters in most New-Keynesian DSGE models. We … response to aggregate shocks and monetary policy. We show that workers index wages to past inflation when output fluctuations … are primarily explained by technology and permanent inflation-target shocks, whereas they index to trend inflation when …