is best suited to reducing or stabilizing inflation. In political economy terms, the choice of monetary arrangement will …

equilibrium with no inflation and no default exists. However, highly-indebted countries are more likely to default once they join …

This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable … inflation rate take time even if they are fully credible, and they are associated with significant output losses in nontradables …

. There is strong evidence of a positive and significant association between the pass-through and the average inflation rate … across countries and periods. The inflation rate, moreover, dominates other macroeconomic variables in explaining cross …

Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic … forward-looking pricing behavior without inflation stickiness and attribute the slow decline in inflation to the consumption …-looking components of inflation weigh approximately equally in pricing behavior, and therefore, that inflation is partially sticky. The …

regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by …-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country …