Persistent inflation and slow stabilization are usually the result of policy accommodation resorted to in an attempt to … avoid the recessionary costs of a sharp reduction of inflation. This paper reviews three explanations for why policymakers … despite their dislike of inflation may nevertheless choose to adopt accommodative policies. It emphasizes the role of …

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 …

We study the link between central bank independence and inflation by providing narrative and empiricial evidence based …, central banks turned into de facto development banks under the aegis of governments, sawing the seeds for high inflation. It … took the high inflation episodes of the 1970s and 1980s and the associated major decline in real income, and growing social …

inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …

lowest inflation rate. Our results suggest that the difference between unanticipated and anticipated policy switches may not …

It has been argued that economies with more independent central banks experience lower inflation over time. In this … the inflation rate dynamics. Second, we implement a panel data analysis. …