Replacing government lump-sum transfers in the household budget by the seigniorage channel in a modified RBC economy … outstanding characteristics of the seigniorage channeled monetary economy - integrality, interactive pricing, and Pareto … monetary economics. Many vexing issues in macroeconomics are clarified through the lens of the seigniorage channeled monetary …

We propose a new approach to constructing inflation tracking portfolios. The key to this approach is the insight that … asset returns track expected inflation far better than they track current realized inflation. Thus, we can construct … portfolios that track next month's inflation much more closely than they track this month's inflation. We show this staggered …

We propose a new approach to constructing inflation tracking portfolios. The key to this approach is the insight that … asset returns track expected inflation far better than they track current realized inflation. Thus, we can construct … portfolios that track next month's inflation much more closely than they track this month's inflation. We show this staggered …

developing country set-up where the government employs seigniorage revenue to finance spending pre-stabilization, and faces …

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …