agents voluntary contribute to a public good. Inflation has two effects at equilibrium: it increases voluntary contributions … high' inflation rates. Moreover, there exists an optimal inflation rate. …

Episodes of unanticipated inflation reduce the real value of nominal claims and thus redistribute wealth from lenders … to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We … model an inflation episode as an unanticipated shock to the wealth distribution in a quantitative overlapping …

higher inflation. This paper argues that there is a close medium- to long-term relationship between money growth and … inflation in Indonesia, and that this has not been greatly disturbed by the crisis. It argues that Indonesia’s disappointing …

independent central bank should reduce inflation only in the presence of political checks and balances. This effect should be … observable implications of their model: Central banks are associated with better inflation outcomes in the presence of checks and …

In the past few years, a number of central banks have adopted inflation targeting for monetary policy. The author … provides an introduction to inflation targeting, with an emphasis on analytical issues, and the recent experience of middle …- and high-income developing countries (which have relatively low inflation to begin with, and reasonably well …

as opposed to chronic inflation processes. Part II turns to chronic inflation countries and analyzes three basic types of …