's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic … equal to nearly 20 per cent of income. For Israel, Mexico, and Argentina the costs had been materially lower, but still in …

In this research paper ARCH-type models are applied in order to estimate the Value-at-Risk (VaR) of an inflation …-index futures portfolio for several time-horizons. The empirical analysis is carried out for Mexican inflation-indexed futures … time horizons. These results have implications for short-term inflation forecasts. By estimating confidence intervals in …

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …

markets and inflation is analyzed. The results of Granger-causality tests reveal that stock market has no predictive power … volatility for inflation uncertainty, et vice versa. Regarding the subsequent volatility of short-term and of long-term interest … rate. In contrast, inflation uncertainty provides some information. The hypothesis of a causality running from the …

Inflation has been well contained over the last decades in most industrialized countries. This implies, however, that … memories of high inflation are likely to fade, because over time larger parts of the population have never experienced high … inflation, whereas those who have might forget. This paper tests whether memories of high inflation affect agents’ preferences …

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …

Empirical analyses of Cagan's money demand schedule for hyper-inflation have largely ignored the explosive nature of … hyper-inflationary data. It is argued that this contributes to an (i) inability to model the data to the end of the hyper-inflation …, and to (ii) discrepancies between 'estimated' and 'actual' inflation tax. Using data from the extreme Yugoslavian hyper-inflation …

consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … income process. The empirical application of our framework using data on individual incomes from Mexico provides striking …) welfare-neutral. A smaller part of measured income mobility is due to either welfare-reducing income risk or welfare …

relationship between uncertainty of inflation persistence and optimal monetary policy and discusses the consequences of the recent … Blanchard proposal to implement a higher inflation target in the light of parameter uncertainty. Furthermore, it provides …