. We use a microfounded New Keynesian model of a monetary union which incorporates persistence in inflation, and examine … non-cooperative interactions of fiscal and monetary authorities. We find that particularly when inflation is persistent …

little to the plans.With the assumptions used and actual inflation experienced over the past decade noted, it is important to … look at where inflation may be headed in the longer-term. Several central banks and the IMF project longer-term inflation to … forward, it will be important to see how close government forecasts match actual inflation and, relatedly, how close actual …

compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …

. Deflation subsided by 2005. As soon as inflation appeared to stabilize near a rate of zero, the Bank of Japan rapidly reduced …

inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal … reminiscent of the global inflation generated by the weak dollar in the 1970s. …

. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we … show that the time inconsistency problem can explain both the short-run and the long-run behaviour of inflation and output …

This paper examines the relationship between cyclical output and inflation in models commonly used for monetary policy … finding is that these models imply a strong negative relationship between inflation and output, a result that is at odds with …

excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s. …