corruption, high inflation due partly to reliance on seigniorage to finance public spending, and lackluster growth. Using annual … by low inflation, robust growth and low level of bureaucratic corruption due to better governance. In contrast, the …

corruption, high inflation due partly to reliance on seigniorage to finance public spending, and lacklustre growth. Using annual … by low inflation, robust growth and low level of bureaucratic corruption due to better governance. In contrast, the …

without limit. Deflation, inflation below target, ‘lowflation’, ‘subflation’, liquidity traps and the deficient demand …

growth and political economy considerations. This paper looks into the debt history of Britain, Germany and France, to gain …-term growth performance. …

Corruption can enhance welfare in two complementary ways in a dynamic time inconsistency model: first, by mitigating … the inflation bias of discretionary monetary policy; second, by reducing the loss due to the suboptimal distribution of …

Recent empirical tests of dynamic optimal seigniorage models focus on their `smoothing' and long-run implications. The … models also imply that the optimal policies are forward looking; that is seigniorage revenues depend on expected future …

the interests of the poor. The clientele of such governments favour unanticipated inflation taxes to erode the real value … of debt service and redistribute income from the rich to the poor. Consequently, inequality sows the seeds for inflation …. Regressions confirm the empirical predictions of the model and show a strong positive relationship between the inflation rate and …

temptation to inflate. It suggests that when economic growth is stalled, the US debt overhang may induce an increase in inflation … ratio was 108.6%. Inflation reduced this ratio by more than a third within a decade. Yet there are some important …