inflation. Special attention is paid to the issue of whether a mean should be extracted in carrying out unit root and … just in rates of inflation. The tests are applied to the monthly series of the Consumer Price Index in the Italian regional … capitals over the period 1970-2003. It is found that all pairwise contrasts of inflation rates have converged or are in the …

This paper assesses the adjustment of inflation with financial dynamic fundamentals of money (financial depth), credit … between inflation and the fundamentals. (2) The error correction mechanism is stable in all specifications but in case of any … disequilibrium, only financial depth is significant in adjusting inflation to the long-run relationship. (3) In the long-run, short …

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 …

equilibrium values having explanatory power for subsequent consumer price inflation. …

for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus … non-monetary (economic and fiscal) determinants of inflation in these countries as well as formal econometric evidence on … predicting inflation at longer (3-year) horizons. …

line with empirical evidence, the model predicts a short-term inflation-output trade-off, a liquidity effect …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

Models of inflation usually have monetary policy affecting the economy through either an interest rate channel or a … and monetary channels must be seen as complementary, joint indicators of inflation and must both be incorporated into … models of inflation. A formal representation of price level determination and behaviour in this two-agent framework is …