We study models incorporating money, household production, and investment in housing. Inflation, as a tax on market … activity, encourages substitution into household production, and thus investment in household capital. Hence, inflation … the channel is economically relevant. We also show models with home production imply higher costs of inflation than models …

as the manifestation of excessive monetary injections [Krugman-Flood-Garber], the fiscal theory of inflation [Sargent …

inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i … the crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable … account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We …

In the aftermath of World War II, Italy and France experienced high inflation. The two countries enacted remarkably … decline. We conclude that inflation was symptomatic of an unresolved distributional conflict, and carne to an end when one …

Using a new survey of French firms' inflation expectations that predates the inflation spike, we document i) evidence … on the anchoring of inflation expectations during the inflation surge, and ii) the relevance of inflation expectations … for firms' decisions. First, we show that inflation expectations under-responded to the initial surge but then …