This paper examines two important issues for a small high-inflation open economy with trade controls where the …

The possibility of reducing the real value of domestic non-indexed government debt through inflation is studied. A …

This paper focuses on the output costs of disinflation. A model of inflation with both forward and backward elements … seems to characterize reality. Such an inflation model is estimated using data for industrial countries, and the output … is considered. An alternative, more credible policy may be to announce an exchange rate peg to a low inflation currency …

inflation induces an upward capital stock adjustment. In economies that move in and out of temporary stabilizations, the … observed effect is a negative inflation-investment correlation that replicates previous empirical findings, due to purely short …

between the nominal interest rate and inflation in the postwar period in the five major industrial countries, utilizing … rate and the inflation rate as between the two groups of countries are reflected in the time series properties of the … inflation rates, which are, in turn, partly attributable to the different extent to which monetary authorities accommodated …

This paper examines the evidence on asymmetries in the effects of activity on inflation. Data for the G-7 countries are … found to strongly support the view that the inflation-activity relationship is nonlinear, with high levels of activity … raising inflation by more than low levels decrease it. In the face of such asymmetries, the average level of output in an …