In this paper we study the relationships between inflation and economic growth an between inflation and inflation uncertainty, by means of a two econometric models: a VAR(1) for the economic growth and inflation variables, and a GARCH in mean model to estimate the nominal uncertainty and its...

The paper is aimed at assessing the theoretical debate as to whether an inflation-targeting-central-bank should react to asset price movements. The main theoretical tenets of the debate, the canonical model of the New Neoclassical Synthesis and the two main competing hypotheses of the debate are...

The paper deals with the debt crisis in the euro zone. The literature presents two interpretations of these events. The first attributes the responsibility of the crisis to the political authorities of the countries under attack. They let the citizens live beyond the standard allowed by the...

A Domar–Pasinetti model of an emerging-market open economy with output growth endogenous to aggregate demand is presented, with foreign debt, interest and exchange rates playing a relevant role in the dynamics of the debt-to-GDP ratio (d). The model is used to assess the macroeconomic effects...

This paper examines the relative advantages of floating exchange rates against a system of exchange rates for the same rigidly anchored (hard peg), with particular emphasis on the implications for effective demand. In particular, it will assess whether a currency depreciation has a beneficial...