objectives, the optimal quantity of money generally is accompanied by positive nominal interest and inflation rates through the … simultaneous optimization of government and the representative household. The fact that nominal interest and inflation rates are …

government and economic activities is inflation perfectly guaranteed not to accelerate. A truly independent central bank is …

The paper offers a new explanation for the cause of the Great Inflation by constructing a model that explicitly … separates the roles of government and monetary policymakers. A mechanism that inflation can accelerate even if an inflation … target is low is uncovered. The model solves the puzzle of the observed high inflation target during the Great Inflation and …

The paper explores a fundamental mechanism of inflation by explicitly including a governmentfs optimization problem … into a general equilibrium model assuming a Leviathan government. The result is clear- cut and beautiful: inflation is … that explains various types of inflation, e.g. hyperinflation, chronic inflation, disinflation and deflation, by this …

government debt and inflation. A model that explicitly incorporates the political utility/objective function of government is … constructed. The government’s borrowing behavior and inflation are determined through the simultaneous optimization of government … whether it is appropriate to apply the fiscal sustainability test of Hamilton and Flavin to high inflation countries. …

This paper examines the mechanism of persistent inflation differentials, current account imbalances, and fiscal … behavior generates problems, such as inflation differentials, and the stability and growth pact does not appear to be … politically unified. In addition, the inflation differentials provide clear evidence that inflation acceleration is not caused by …

This paper theoretically examines a way out of the euro crisis based on a model of inflation acceleration and … differentials. The conclusion is that, unless more advantaged states (e.g., Germany) systematically transfer a necessary amount of … generates inflation differentials and huge current account imbalances among member states. As a result, although relatively more …