inflation when there is no perceived commitment to reduce the fiscal deficit. The model is based on a modified version of the … current consumption leads to an equal increase in inflation. The timing of this increase varies with the size of the deficit … inflation. Three policy conclusions are offered. …

Sudanese inflation dramatically fell in 2000. But just prior to the sharp decline, an export ban was placed on Sudanese … value. In the long run, livestock exports are positively associated with nonfood inflation. In the short run, food price …

these policy instruments. It commits to higher money supply in the future so that the private sector expects inflation … can be analyzed as a credibility problem if the government has only one policy instrument, money supply carried out by … solve the credibility problem. They involve printing money or nominal debt and either (1) cutting taxes, (2) buying real …

money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non … policy decisions by providing a clearer narrative of the relative role of money in the interaction with other economic and …

Pakistan. A stylized inflation model is specified that includes standard monetary variables (money supply, credit to the …This paper examines the relative importance of monetary factors and structuralist supply-side factors for inflation in … that monetary factors have played a dominant role in recent inflation, affecting inflation with a lag of about one year …

real money balances, the approach followed here focuses on the relationship between nominal variables and inflation. The … at the end of the sample. The estimates confirm the strong relationship between money and inflation when M1 is used, with …This paper looks at the determinants of inflation in Iran. Unlike the traditional estimates of the demand function for …

of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains …

with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was … financial stability. Finally, this paper makes a case against increasing the central banks’ inflation target. …