countries. Much of the literature focusses on the impact of monetary policy on inflation levels and inflation volatility, and … but may have some impact on inflation. Although there is much discussion about the merits of keeping inflation levels and … volatility low, there is very little literature on studying the impact of low rates of steady inflation on the levels of private …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …