and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

is shown that the firm's optimal adjustment strategy may involve stockouts. At low inflation rates, output is inversely … related to the inflation rate, and the length of time demand is satisfied increases with the demand elasticity but decreases …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …

This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four … different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage cuts that would have … happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how …

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …

Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods …. Correlations of inflation with the growth of money also are higher when high-inflation as well as low-inflation countries are … included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together …

economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

. In a positive inflation environment, however, both real spot and real forward rates might well become negative, but …