prices should lead general price movements, and the level of commodity prices should be correlated with the general inflation … broadly support the conclusions of the model. Commodity price levels tend to be cointegrated with consumer-price inflation … rates. Commodity price movements contribute weakly to predictions of inflation rates but more strongly to predictions of …

This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …

When there are collection lags in the tax system, inflation reduces the real revenues. This is often offered as an … argument for less reliance on the inflation tax. But the optimal rates of other taxes should also be reconsidered in the light …, the optimal inflation tax is independent of the collection lag …

evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in … our sample. Our results show the importance of making a clear distinction between inflation and the cyclical component of …

This paper examines two important issues for a small high-inflation open economy with trade controls where the …

The possibility of reducing the real value of domestic non-indexed government debt through inflation is studied. A …

This paper focuses on the output costs of disinflation. A model of inflation with both forward and backward elements … seems to characterize reality. Such an inflation model is estimated using data for industrial countries, and the output … is considered. An alternative, more credible policy may be to announce an exchange rate peg to a low inflation currency …

inflation induces an upward capital stock adjustment. In economies that move in and out of temporary stabilizations, the … observed effect is a negative inflation-investment correlation that replicates previous empirical findings, due to purely short …

between the nominal interest rate and inflation in the postwar period in the five major industrial countries, utilizing … rate and the inflation rate as between the two groups of countries are reflected in the time series properties of the … inflation rates, which are, in turn, partly attributable to the different extent to which monetary authorities accommodated …