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Sargent and Wallace (1981) have shown by an example, termed "spectacular", that a lowering of the growth rate of money … may in some cases increase the rate of inflation - not only in the end, but even from the start. I show that this … "spectacular" result ceases to hold if the central bank is restricted always to choose the lowest final inflation rate. On the …
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crowding out are raised. Some aspects of inflation and hyper-inflation are then discussed. The conditions for the establishment …
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tend to raise the general price level. In contrast to the accepted view, other prices do not seem to decline to offset the …
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This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the mainland of China. Section I provides an overview of recent macroeconomic developments and the main policy issues in Hong Kong SAR. Section II...
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El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...
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