Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der …In the presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by …

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 …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models … and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion … of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … linked via the incentive to innovate. For standard calibrations, the linkage is strong: as trend inflation shifts from -5 to …

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy … rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important … persistent cost-push pressures in the economy leading to a significant deterioration in the inflation - output gap trade …

The inflation rate is normally computed as a weighted average of individual price changes. Alternatively, this rate …

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a … significant structural break in the function that relates economic growth to inflation. The break is estimated to occur when the … inflation rate is 8 percent. Below that rate, inflation does not have any effect on growth, or it may even have a slightly …

Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate … inflation`s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically … significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and …