implication of the model is a nonlinear relationship between the rate of inflation and the choice of regime for the next period … regime, followed by a gradual introduction of more flexibility as inflation subsides. A series of regressions on a sample of …

We analyse optimal monetary and fiscal policy in a New-Keynesian model with public debt and inflation persistence … striking result is not true with high degrees of inflation persistence. Secondly, we show that optimal fiscal policy is more … active under discretion than commitment at all degrees of inflation persistence and all levels of debt …

regarding the strength of international transmission of inflation. This paper uses a number of econometric techniques to assess … the extent of the link between inflation rates between China and the United States and Japan. It finds only limited … empirical evidence at the aggregate level for consumer price inflation in China leading to price changes in the United States …

This study establishes a framework for analyzing the major determinants of inflation in the Islamic Republic of Iran …, and goods. Results strongly support the need for a sustained prudent monetary policy in order to reduce inflation and … inflation that, in turn, intensifies asset substitution (from money to foreign exchange), thereby weakening real demand for …

economies. The paper finds that for four widely used measures of economic performance—growth, inflation, the fiscal balance, and …

This paper revisits the question of the real effects of inflation, on the basis of the experience with 23 high … inflation episodes in 17 countries. It finds strong indications that inflation had contractionary effects on a number of … important macroeconomic variables, such as GDP, investment and employment. Moreover, high inflation led to a significant decline …

output gap, and inflation in Chile, Korea, Mexico, and Turkey, using a generalized vector autoregression analysis. Nominal … historical wage shocks are shown to have an important effect on movements in inflation only in Mexico. Generalized impulse … reduction in output. Inflation increases in all countries, particularly Mexico. A positive shock to nominal money growth raises …

flexible prices. Second, under the optimal policy the volatility of non-tradable inflation is close to zero. Third, stabilizing … nontradable inflation is optimal regardless of the financial structure of the small open economy. Even for a moderate degree of …

inflation …