interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

deflation, coupled with strong output growth. Our study establishes a stable money demand system for broad money M2. Inflation … affects the adjustment of the system towards equilibrium, and shocks to broad money are found to lead to higher inflation in …

A low-inflation mystery emerged during the 2010-2019 period as the Federal Reserve struggled to hit its two percent … inflation target. This paper presents theoretical results and empirical evidence that points to the safe asset shortage as a key … reason for the low inflation during this time. Specifically, the paper shows that the safe asset shortage was part of a …

inflation tax Laffer curve before abandoning the currency. Estimates of the seignorage-maximizing rate derive from a short … percent, generally exceeding monthly inflation …

Bank of Zimbabwe (RBZ) operated on the correct side of the inflation tax Laffer curve. Estimated seignorage maximizing … prices for the Old Mutual insurance company's shares, which trade in London and Harare, serve as the measure of inflation … 242 to 315 percent and exceeded all monthly inflation rates …