agents voluntarily contribute to a public good. Inflation has two effects at equilibrium: it increases voluntary … too large inflation rates. Moreover, there exists an optimal inflation rate …

In the framework of a standard overlapping generations model, it is shown that active inflation forecast targeting …-age consumption. The inflation forecast targeting rule which minimizes the volatility of inflation can be active or passive, depending … on the characteristics of shocks and the risk aversion of households. Inflation forecast errors are always greater under …

This book offers a comprehensive analysis of long run effects of inflation on real activity. The first part presents …

We explore how members of a collective pension scheme can share inflation risks in the absence of suitable financial …

This paper provides general equilibrium estimates of the steady-state welfare gains of lowering inflation from a low … tax, it is found that inflation unambiguously reduces capital intensity, drives up the before-tax real rate of return to …