public debt using inflation, whereas a MFFS accompanied by real debt stabilization - through the adjustment of seigniorage …, contrary to the common wisdom a MFFS is followed by a moderate increase of inflation, which is only temporarily higher than the …

influence of macroeconomic paradigms on monetary policy design. The conventional wisdom models inflation targeting by minimizing … on the institutional mechanism of Central Bank Independence (CB) while reducing inflation aversion and inflation bias is … prone to gloss over the serious adverse feed-back effects on inflation bias due to macroeconomic distortions. Alternative …

purposes, and the theory predicts that conditional on such shocks output growth should be more volatile than inflation in …We address this question by examining the conditional dynamics of inflation and output growth in response to markup … shocks for 14 industrialized countries. Markup shocks create a trade-off between output gap and inflation stabilization …