A new wave of applications of the dynamic Leontief model brought into the forefront the singularity problem of the capital matrix. In these applications the singularity of the capital matrix is a common occurrence which complicates the solution of the model. In the singular case the model cannot...

In inflation targeting, it is difficult to manage the relation between monetary policy and the exchange rate. If the central bank pays attention to this connection, it may be under criticism that they are targeting the exchange rate and not inflation. Our paper discusses an element of the...

Most discussion of inflation in 2021-2022 have focused on product market shocks rather than unemployment indicators. The Phillips curve approach, which provides the traditional theoretical framework, was questioned. In addition to the surge in food and energy prices, many new inflationary...