inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies …. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … zero. The paper shows that declining nominal prices were a rather common phenomenon during this period of low or no …

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers’ social security …

inflation-dispersion link in goods and services markets with a matched panel of equity market prices. Surprisingly, we find that …An empirical link between inflation and price dispersion has been well established in goods and services markets – both …. Specifically, we examine the link between inflation and price dispersion in an empirical setting patently lacking the market …

The paper offers a new explanation for the cause of the Great Inflation by constructing a model that explicitly … separates the roles of government and monetary policymakers. A mechanism that inflation can accelerate even if an inflation … target is low is uncovered. The model solves the puzzle of the observed high inflation target during the Great Inflation and …

We analyse welfare effects of the interactions between the tax system and inflation in Poland and in Ukraine, using the … framework developed by Feldstein (1997, 1999). This approach stresses the fact that inflation increases distortions created by …

A standard monetary model of inflation is augmented to include import, labor, energy, and intermediate good cost …