at lowering public and private interest rates and increasing economic activity, consumer prices, and inflation …

, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

commiting to keep interest rates low at the exit of the liquidity trap, to stabilize inflation today. 2. From debt … consolidated budget) monetary policy becomes subservient to fiscal policy, giving rise to more volatile inflation, output and … interest rates. Liquidity trap (LT) episodes are longer, however, the impact of interest rate policy commitments on inflation …

inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …

the inflation rate lower than either of the authorities would want. It explains indeed why Central Bank independence can … construction of this model was based on the existence of a Phillips-type relationship between the inflation rate and the … unemployment rate, which has lost its relevance in the contemporary economy. Today, the prospect of a rise in the inflation rate …

commiting to keep interest rates low at the exit of the liquidity trap, to stabilize inflation today. 2. From debt … consolidated budget) monetary policy becomes subservient to fiscal policy, giving rise to more volatile inflation, output and … interest rates. Liquidity trap (LT) episodes are longer, however, the impact of interest rate policy commitments on inflation …