maintaining moderate inflation, the rate of investment; aggressive effort at domestic resource mobilisation; and structural change …

macroeconomic developments regarding economic growth, inflation, external balance, the fiscal situation and aggregate savings and …

depress growth. There are other arguments related to more immediate effects of debt on inflation and national solvency …

-have been carried out at no cost to output. After suggesting a new methodology that allows for long-lived effects and inflation … combination of circumstances-i.e. capital inflows, structural reforms and the peculiar recent inflation history-can explain that …

This paper uses a tractable macroeconomic model with idiosyncratic human capital risk and incomplete markets to analyze … business cycles eliminates the variation in idiosyncratic risk. The paper shows that a reduction in the variation in … idiosyncratic risk decreases the ratio of physical to human capital and increases the total investment return and welfare. If the …

Several countries around the world have adopted the inflation targeting regime for monetary policy. Despite the growing … adopting inflation targeting. This working paper examines the extent to which macroeconomic policies anchored to inflation … targeting affect unemployment, economic growth and the output gap. The results show that inflation targeting causes no harm to …