growth, growth volatility, and inflation. They use a treatment effects model that estimates jointly the probability of having … of inflation, but macroeconomic volatility has been higher. Also, ICU countries have grown faster than with currency …

and financial stability. Nowadays the monetary policy adopted is based on inflation targeting as a main frame of decision … rationale behind the adoption of inflation targeting, the key features, the international experience and the prerequisites on …

underpinned by productivity increase could not be sustained, as it would undermine the competitiveness of Czech exports …

), the problem of instability is simply transferred to inflation rate differentials, what we call the (impossibility of the …) "uncovered inflation rate parity condition" in a monetary union. The analysis of the actual divergences and imbalances in the EMU …, then, suggests that failure to respect the "uncovered inflation rate parity condition" in a monetary union may lead to …

repression in domestic interest rates→to avoid an avalanche of foreign capital inflows that would threaten inflation and asset … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …