Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur … more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional … views that inflation will surge without swift rate rises. The key question is whether expectations are forward looking or …

endogeneity of money. Implicitly, the money supply process with regard to Turkish inflation is unpredictable with respect to the … past history of prices, i.e. either inflation or currency depreciation. Therefore, the Turkish monetary regime may be … persistently high inflationary process in Turkey. -- Demand for Money ; High Inflation ; Granger Causality ; Exogeneity of Money …

actions, especially government spending, were critical in the pre-Volcker inflation build-up. …

actions, especially government spending, were critical in the pre-Volcker inflation build-up. …

The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …