devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is …

economic growth, inflation and also the channel through which the outcome is more significant. The results show that in all of …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff …

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for … inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the … at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return …

This paper examines the question of whether inflation targeting monetary policy is an appropriate framework for sub …-Saharan African countries. The paper presents an overview of inflation targeting, reviews the justification for the regime, and … summarizes some major critiques. Monetary policy responses to inflation depend on the source of inflationary pressures. Therefore …

feature of lobbying pressures has an impact on the stabilization properties of monetary policy. When a supply shock occurs …, the shock is totally absorbed by a forward-looking trade-union which has no costs of lobbying, independently of any finite …

Inflation targeting is a forward-looking framework for monetary policy that has brought unprecedented transparency to …) Monetary Policy Committee (MPC) has, since the introduction of inflation targeting, successfully communicated to the public its …