fiscal rules in terms of the budget balance, and also the output gap. The effects of inflation, external accounts balance and …

advanced economies and emerging markets to quantify the effects of fiscal tightening on inflation expectations. We find that … fiscal consolidation announcements reduce inflation expectations over the medium-term (three and five-years ahead), but not …" about expected future inflation at longer horizons. The inflation anchoring role of consolidation announcements is enhanced …

inflationary pressure. In this case, default and inflation risks can reinforce each other. …

view of inflation. Second, we discuss how the recent inflationary episode has contributed to redistributing real resources …

This paper argues case that a tighter fiscal policy stance can meaningfully support central banks in fighting inflation … more effective than fiscal policy in battling inflation in open economies due to the exchange rate channel, we show that a …