illustrate the use of this approximation, we use it to characterize the change in the nature of the Phillips curve and the money-inflation … change in money growth-inflation relation …

inflation, and that the optimal monetary policy is that which maximizes real balances. We also show that the real rate of … interest is not invariant to monetary policy: inflation lowers the real rate …

This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money … demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate …-spending equation that accounts for the effects of the inflation tax. The paper derives the dynamic effects of fiscal policy, incomes …

rate of inflation. He also examines the question of gradualist versus "cold-shower" policies and the criteria for selecting …

) There is no permanent tradeoff between unemployment and inflation or any other characteristic of the path of the price level …

of business cycle theory relates this finding to temporary confusions between absolute and relative price changes. These … shifts in nominal aggregates is subject to question. Another strand of theory, based on long-term nominal contracts and …