This book studies the coexistence of inflation and unemployment in a monetary union. The focus is on how to reduce the … associated loss. The primary target of the European central bank is low inflation in Europe. The primary target of the German … inflation and unemployment? Is monetary and fiscal cooperation superior to the sequential process of monetary and fiscal …

inflation levels across countries and across time. However, there is much less work exploring this relationship through … openness of an economy affects the equilibrium inflation level in a simple two-country OLG model with imperfect competition in … that a higher degree of openness in a country is associated with a higher equilibrium inflation rate. This result is driven …

of inflation in an open economy. In contrast with the closed economy literature, when policy is set non-cooperatively in … use the inflation tax to gain a beggar-thy-neighbor advantage over the terms of trade. Strategic use of the inflation tax …