wealth. Domestic price inflation is affected by imported inflation including currency depreciation (a pass through effect …

disturbances to the money market, the variance of output is shown to be an increasing function of the trend inflation rate. When … they result from disturbances to the goods market, the variance of output is a decreasing function of the trend inflation … rate. When both disturbances are significant, there exists, in general, a critical non-zero trend inflation rate that …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

relationship, and 2) using inflation as an additional explanatory variable. By implementing a well structured estimation strategy …, we found that after taking the level shift into account, a cointegrating equation, including inflation, exists and is …

is constructed for the German monetary sector based on M3, GNP, an inflation rate, a long-term interest rate and a short …-term rate which represents the policy variable of the DBB. Moreover, import price inflation is included as an exogenous variable …

inflationary pressures increase NIM. This strongly increases credit and thereby output, but it dampens inflation by relaxing price … setters' credit rationing constraint. At the ZLBD, monetary policy has far larger effects on output relative to inflation, and … suggests urgency in returning inflation to targets, avoidance of negative policy rates, and a strong influence of credit …

, bank capacity utilisation, market concentration and inflation are the main drivers wide interest rate spreads in the … growth strategies, while government policy makers should control and stabilize inflation. Competitive policies in the entire …