inflation at different time horizons or frequency bands. The ECB has publicly supported this understanding of the framework …. This paper presents further evidence on the behaviour of euro area inflation using band spectrum regressions, which allow … frequency domain. The main finding is that variations in inflation are well explained by low-frequency movements of money and …

This paper reconsiders the relationship between inflation, economic growth and external debt, and discusses various … channels through which (a) increased inflation tends to reduce growth and raise foreign indebtedness over time and (b …) declining growth tends to amplify both inflation and debt. Based on a simple model of the simultaneous determination of …

shifts in the parameters of wage equations when the process generating price inflation changes. The two major shifts that we …

with targeting the rate of inflation. Critical advances in the measurement of inflation have proved decisive in bringing …

stability. These questions are: (1) what are the economic costs of inflation? (2) what part does monetary policy play in the … short- and medium-term evolution of inflation? (3) what are the most appropriate monetary policy strategies for fighting … inflation? …

examining the relationship between inflation and unemployment, which sheds light on these developments. The theoretical section … similar inflation behaviour, in that inflation depends more closely on the capacity utilization rate than on the unemployment … high unemployment does not put downward pressure on the inflation rate. During the 1970s and 1980s in Germany, there …

corrects the average debt bias, inflation, which is attuned to the Union-average debt level, is more stable. …

distortions (and, hence, high inflation) is admitted into a monetary union once its economic structure has converged sufficiently … the union again later, convergence stops for a while after the high inflation country has joined. With irreversible …

consumption velocity very closely during the high-inflation years. …

monetary union. There is an incentive to use a surprise inflation tax to wipe out the real value of government debt and wage … monetary union with a non-cooperative or cooperative central bank. This case is stronger when the aversion to inflation is high … is little indexation. Even if all contracts are indexed, there is an incentive to create unanticipated inflation if money …