March 2000 - Fiscal problems are a key factor behind the inflation that has persisted in Eastern Europe since 1989. Deficits need to be cut back, but by how much for a given inflation target? A simple framework links debt, the deficit, and inflation to assess the fiscal stance of the Romanian...

As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels...

The major objective of the paper is to provide estimates of a money demand function and of the optimal seigniorage in the Czech Republic and compare it to other transition countries such as Bulgaria, Poland and Romania, and analyze the scope of budget deficit financing through money printing. To...