The purpose of this paper is to provide empirical answers to questions related to the propagation of shocks in a high-inflation … trigger a process that, through indexation and monetary accommodation, results in long-term changes in inflation? Within the …-time nominal shocks have a persistent effect on the inflation rate, or the hypothesis that long-term changes in inflation are …

inflation and unemployment among EMS members since the late 1970s. This paper presents new empirical evidence for this … inflation countries -- France and Italy -- have experienced a decrease in tolerance for inflation relative to unemployment …. Germany and other low inflation countries, in contrast, appear to have experienced a decrease in tolerance for unemployment …

fluctuations in the output gap, relative to the inefficiencies associated with the fluctuations in inflation. With capital account … the inflation rate than on narrowing the output gaps. We provide a re- interpretation of the evidence on the effect of …

paid to the impact of foreign inflation on the real exchange rate and other real variables. At first, an environment in … can be traded. The effect of foreign inflation on domestic real variables depends on: 1) the degree to which it causes a …

reforms may cause jumps in inflation and the exchange rate through their impact on the government budget. In order to achieve … a sustainable reduction in inflation an exchange rate freeze or crawling peg is shown to require restrictions not only …-collapse inflation will exceed the rate prevailing before the freeze started …

discusses the interaction of inflation and exchange rate policy in a variety of contexts. Four different settings are used to … in the transition from high to even higher inflation discussed in the context of Brazil; exchange rate fixing and real … deviatiins arise and how they influence inflation, trade and capital flight …

The most important conclusion of this paper is that the growth rate of the money supply influences the U.S. inflation …, help to explain why U.S. inflation was so low in 1976 and why it accelerated so rapidly in 1978. Granger causality tests … indicate that lagged exchange rate changes influence inflation, but lagged inflation does not cause exchange rate changes. A …

draw some implications for timing between monetary expansion and inflation, inter-country comparisons of inflation rates … lead inflation in the sense that money Granger-causes prices without feedback, contradicting an implication of the monetary … of inflation during the fixed exchange rate period, providing no evidence for a generalized "law of one price." (3) Some …

desirable policy is not addressed here. Consistently followed, it would result in a higher long-run rate of inflation, because …