This paper verifies the performance of the Barro and Gordon (1983) model to explain the US inflation since the early … results show that the time consistency problem explains the US inflation during the Greenspan chairmanship at the FED …

consistent with the rise of inflation during the Burns years and its subsequent fall …

setting causes inflation persistence. We analyse how the endogeneity of the capital stock changes the macroeconomic dynamics … inflation more persistent in reduced form. This makes the optimal contemporaneous policy response to shocks more vigorous but … the subsequent return to steady state more gradual. Observed output becomes more serially correlated. Capital endogeneity …

The purpose of this short paper is to show that inflation “band” targeting can solve the “time inconsistency” problem … that exists under inflation “point” targeting by setting a relevant target range. Moreover, we show that inflation band … targeting has the following two advantages, besides allowing for supply-shock measurements. 1) It can produce output beyond …

. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we … show that the time inconsistency problem can explain both the short-run and the long-run behaviour of inflation and output … in the Turkish economy. The results also reveal that the Turkish monetary policymakers have put more emphasis on output …

Purpose - This study focuses on analyzing the relation between money supply, inflation and output in Vietnam and China … scales. While inflation in Vietnam is strongly influenced by expected inflation and output growth, inflation in China is … and China. The study demonstrates that the relationship between money supply, inflation and output is still true in case …