plays no role. Trust does play a role but requires a bound on effciency. Stationary inflation must be non-negative and …

plays no role. Trust does play a role but requires a lower bound on efficiency. Stationary inflation must be positive and …

Is inflation a monetary phenomenon? In the decades since the influential work of Milton Friedman, the great moderation … structural change in the underlying relationship between money growth and inflation, there is limited understanding as to why … important impact on the relationship between excess money growth and inflation. Estimating these effects using a long run sample …

The authors apply a Hidden Markov Model to identify regimes of shifting inflation and then employ an attribution … technique based on the Mahalanobis distance to identify the economic variables that determine the trajectory of inflation. Their … analysis enables policymakers to focus on the most effective tools to manage inflation, and it offers guidance to investors …

of money, it causes inflation, in the absence of monetary intervention. If the monetary authority attempts to restore pre … credit cards, there is even more inflation, and less efficiency gains. The monetary authority might then have to accept less … than pre-credit card efficiency in order to restore pre-credit card price levels, or else it will have to accept inflation …

policy is ineffective ; above this threshold inflation rises. Finally, market liquidity, measured through the speed of real …