the upswing in the credit volatility that kept money supply variability from translating into inflation and GDP volatility. … volatilities away from the downward trending GDP and inflation volatilities. Using an en dogenous growth monetary DSGE model, with … micro-based banking production, enables a contrasting characterization of the two great volatility cycles over the …

Countries that have pursued distortionary macroeconomic policies, including high inflation, large budget deficits and … misaligned exchange rates, appear to have suffered more macroeconomic volatility and also grown more slowly during the postwar … more ‘extractive’ institutions from their colonial past were more likely to experience high volatility and economic crises …

be held constant in the face of a domestic inflation. In this circumstance, import duties and export subsidies would have … in line with domestic inflation. Unless such a passive policy is accompanied by the elimination of trade barriers …

much sharper rise in inflation than measured by the official price indices, whose quality was called into question. In this … determinants. Since these data do not rely on official inflation statistics, they provide an independent check for the latter. We … not recorded by official inflation statistics. We do not find evidence in support of this hypothesis. …

government to maintain a socially efficient policy of zero inflation for most of the game, without any formal precommitment … supports the results of Backus and Driffill and of Barro, in that the uncertainty induces low or zero inflation outcomes in the …

expected means of future interest rates, exchange rates and inflation. More recently, these methods have been refined to rely …

producers. I apply these results to a model of inflation. I find that the model can fit the quantitative facts on post …-war inflation remarkably well, that it is a good forecaster of future inflation, and that it survives the Lucas critique by fitting … also the pre-war facts on inflation moderately well. …

from disturbances to the money market, the variance of output is shown to be an increasing function of the trend inflation … inflation rate. When both disturbances are significant, there exists, in general, a critical non-zero trend inflation rate that …

) that answers this question. Unlike the existing theory on price indices (which is static and certain), the DPI measures the …