increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

work. An increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary … policy and hence the cost of regulation. It also increases unemployment variability, making regulation more costly. In … prediction, we use data for 19 OECD countries for the period 1980–1994. Our proxies for regulation are unemployment, different …

increase in conservation triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

inflation. Conventional macroeconomic models have implicitly assumed policy regimes in which the aforementioned mechanism does … extensions of the basic model show that quasi-fiscal shocks may produce undesirable effects, such as inflation following …

This paper evaluates the link between central bank independence and inflation for the case of Colombia. It develops a … theoretical framework concerning central bank independence and inflation. It concludes that central bank independence is an … important feature for reducing inflation and partially solvind the problem of time inconsistency, assuming the existence of a …

negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …