plays no role. Trust does play a role but requires a bound on effciency. Stationary inflation must be non-negative and …We study the interplay between competition and trust as efficiency-enhancing mechanims in the private provision of … money. With commitment, trust is automatically achieved and competition ensures efficiency. Without commitment, competition …

inefficiently provided, inside money competition plays a disciplinary role by providing an upper bound on equilibrium inflation …

Cross-country evidence on inflation and inequality suggests that they are positively correlated. I explore the …

between lack of government commitment and high inflation, which characterizes representative agent models of optimal fiscal …

of money, it causes inflation, in the absence of monetary intervention. If the monetary authority attempts to restore pre … credit cards, there is even more inflation, and less efficiency gains. The monetary authority might then have to accept less … than pre-credit card efficiency in order to restore pre-credit card price levels, or else it will have to accept inflation …

policy is ineffective ; above this threshold inflation rises. Finally, market liquidity, measured through the speed of real …

inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …

We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely …

The economic growth and the research of the inflation, as objectives of the monetary policy of a country, are a major … that in the 20th century, all countries have known the inflation, most of them even the hyperinflation, proves that this … proved that no economy is insured by the unfavorable impact of the inflation. The central bank’s main purpose is the control …