sector expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap …

stabilizing inflation, whereas under no debt concerns, monetary policy is very effective in stabilizing the macroeconomy. …

We study the impact of debt maturity management in an economy where monetary policy is 'passive' and subservient to … of monetary policy in controlling in ation. This requires debt management to focus on issuing long bonds. Moreover, we …

announcements by the fiscal and monetary authorities can lead to high inflation and large output losses. The policy trade-off can be …

the role of prey. Then, we extend the model step by step by introducing variable prices, inflation expectation, public …

What are the effects of a higher central bank inflation target on the burden of real public debt? Several recent … proposals have suggested that even a moderate increase in the inflation target can have a pronounced effect on real public debt … inflation target. We find that moderate changes in the inflation target only have significant effects on real public debt if …

public finances. We show that when the ECB misses its inflation target this has large heterogeneous fiscal consequences for … missing their inflation targets. They are also sizeable …

inflation expectations. We find that people underestimate public debt levels and increase inflation expectations when informed … the central bank considerably reduces the sensitivity of inflation expectations to public debt. We also show that people … associate high public debt with stagflationary effects and that the sensitivity of inflation expectations to public debt is …

This paper examines whether high government debt levels pose a challenge to containing inflation. It does so by … assessing the impact of government debt surprises on inflation expectations in advanced- and emerging market economies. It finds … that debt surprises raise long-term inflation expectations in emerging market economies in a persistent way, but not in …