Why are we seeing inflation? The government dropped about $5 trillion in people's bank accounts, a classic fiscal … helicopter drop. Why did this one produce inflation? People do not believe this debt will be repaid. Will inflation continue …? Whether we see a one-time price-level increase or continued inflation depends on future fiscal and monetary policy, and …

paper, I assess the implications of the zero lower bound in a DSGE model with financial frictions. The analysis shows that … as the management of expectations by the central bank or a counter-cyclical fiscal stimulus, may help recover the economy …

rule (MT) that takes both debt and inflation into consideration exaggerates the trade-off between short-run and long …-run multipliers. In addition, we show that relative to seiniorage, inflation and changes in the discount factor play more important …

inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …

inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … industrialization. An institutional case study of the period, complemented by a general-to-specific econometric analysis, finds no … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …