effectiveness of the Central Bank of Congo in controlling inflation, despite a rapid policy response to inflation shocks. Options …

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the … econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play …

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for …-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest … inflation. Third, we perform an out-of-sample forecast to identify where the economy—and therefore policy—was likely headed …

This paper analyzes the relationship between inflation tax and the level of government spending in a public finance … inflation tax becomes an increasing function of government spending. Furthermore, the more inefficient the tax collection system …, the larger the increase in the inflation tax for a given increase in government spending. A numerical analysis of the …

expected inflation rate, in an environment of asymmetric information. Policymaking is endogenous and the public learns … rationally. There are two main findings. First, there is a “honeymoon effect” after the regime change, where inflation is lower …

This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces … transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest … on deposits, indexing money, or “dollarizing.” Results indicate that financial innovation raises welfare in low inflation …

transmission mechanism through which domestic policies affected the dynamics of inflation was relatively small during a period of … high but relatively stable inflation (January 1978-85), it became an important factor in the inflation process during the …

estimated revenue-eroding effects of inflation within the standard model of inflationary finance. The evidence indicates a wide … the sample countries, appears to have substantially offset gains from the inflation tax, thereby severely restricting the …

In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation …. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework … controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price …