to close and the greater is the danger of credit booms and overheating. We argue that inflation targeting with floating … Maastricht inflation criterion which as currently defined has lost its economic logic. …

to close and the greater is the danger of credit booms and overheating. We argue that inflation targeting with floating … Maastricht inflation criterion which as currently defined has lost its economic logic. -- euro area enlargement ; convergence … ; capital flows ; credit boom ; exchange rate regime ; inflation ; Maastricht …

. Unanticipated inflation redistributes income and wealth. In order to model the wealth distribution, we study a 60-period OLG model …