The cost of the FED maintaining a low target level of inflation is measured by Lucas (2000) and Ireland (2009) as the … welfare cost of inflation based on money demand. Their estimates require stability of the money demand function. Ireland finds … inflation to the post-Volcker period …

deflation, coupled with strong output growth. Our study establishes a stable money demand system for broad money M2. Inflation … affects the adjustment of the system towards equilibrium, and shocks to broad money are found to lead to higher inflation in …

This study examines money demand and inflation dynamics in the Islamic Republic of Iran using quarterly data for the … long-run money market equilibrium condition is identified and the short-run behavior of the inflation, measured in terms of …/01-2001/02 buoyed the demand for domestic money and contributed to the decline in inflation. Tests of model stability do not point to a …

determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a … monthly inflation rate of approximately 13 percent. The implications of this are that when facing the choice of maximizing …

Empirical studies of the shoe-leather costs of inflation are typically computed using M1 as a measure of money. Yet … moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in favor of the Fed's current …

wealth. Domestic price inflation is affected by imported inflation including currency depreciation (a pass through effect …

Empirical studies of the "shoe-leather" costs of inflation are typically computed using M1 as a measure of money. Yet … minimized for a positive but moderate value of the inflation rate, thereby justifying a deviation from the Friedman rule in …

A low-inflation mystery emerged during the 2010-2019 period as the Federal Reserve struggled to hit its two percent … inflation target. This paper presents theoretical results and empirical evidence that points to the safe asset shortage as a key … reason for the low inflation during this time. Specifically, the paper shows that the safe asset shortage was part of a …

, interest rates and inflation rate in ASEAN-5, namely Indonesia, Malaysia, Philippine, Singapore and Thailand. Using sample …-run relationships between M2 and real income, lending rates, interest rates and inflation rate for ASEAN-5 …