This paper reexamines the inflation bias of time-inconsistent monetary policy. A benevolent government can eliminate … collecting the inflation tax. Such government has no use for normative solutions of the inflation problem. The paper also … choosing target values. On the hypothesis that the bakers; non-pecuniary payoff depends on expected inflation, they will …

competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to … shown that, in effect, this is an inflation tax, requiring high inflation countries to make transfers to low inflation …

relative price volatility (mainly inflation, real effective exchange rates) expected in theory, do not occur when small … variables (measured by the real effective exchange rate, inflation rate and the terms of trade) persists. Given the dominant …

This study examines the impact of inflation and output growth on stock market returns and volatility in selected Asian … (1, 1) model, it is found that macroeconomic volatility, which is measured by movement in inflation and output growth …, have a weak predictive power for stock market returns and volatility in these countries. The movements of the inflation …

We contrast the influence of demography and central bank independence on inflation. The recent demographic trends in … developed countries are shown to weight more on inflation than central bank independence, while the contrary stands for the …

objectives, the optimal quantity of money generally is accompanied by positive nominal interest and inflation rates through the … simultaneous optimization of government and the representative household. The fact that nominal interest and inflation rates are …

Inflation has been the major global economic problem for most economies throughout the world over the last three … money. According to this hypothesis, inflation results solely from a maintained expansion of the money stock at rates in … causes inflation. In fact, this finding supports Darrat’s (1986) finding that money causes inflation in Morocco and Tunisia …

studying debt and banking crises, inflation, currency crashes and debasements. The data covers sixty-six countries in across … all regions. The range of variables encompasses external and domestic debt, trade, GNP, inflation, exchange rates …