This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic … money demand and the distribution of money holdings across households, and study the effects of inflation under the implied … inflation are on average 40% smaller compared to a complete markets, representative agent economy, and that inflation induces …

Monetary search theory implies that the real effects of inflation via its impact on price dispersion depend on the … level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation …-price dispersion nexus is predicted to be asymmetrically V-shaped which results in an optimal inflation rate above zero. For highly …

investigates to what extent the quality of eligible collateral is able to explain inflation employing the first comprehensive … statistically significant correlation between QEC and average inflation is found. This result is robust to the use of control … establishing QEC as one pivotal element of a theory of central banking. Collateralisation of the issuance of money and the …

countries and we show that this index has the potential to affect monetary stability as measured by national inflation rates …. The existence of a correlation between inflation and the quality of eligible collateral would strongly support fundamental … claims of property economics, an economic theory based on a clear cut distinction between property and possession. Property …

Irving Fisher's encounter with the Quantity theory of Money began in the 1890s, during the debate about bimetallism … the theory, derived from his recognition of bank deposits as means of exchange, was to treat their out of equilibrium … recursive interaction with inflation as integral to it. This treatment underlay both his 1920s work on the business cycle as a …

money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …

integrated markets, however, theory suggests that the impact of inflation on price dispersion disappears. Employing price data of …Recent monetary search models emphasize that the real effects of inflation via its impact on price dispersion depend on … the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation …

crisis is empirically examined. The standard model for themonetary analysis of inflation, i.e. the P-Star model by Hallman … long run dynamics of CPI inflation inIndonesia remarkably weIl. Hence, there is an empirical support for the assertion that …

tender laws. Numerous historical failures of fiat moneys are consistent with the theory. …