framework that allowed the high inflation of the 1970s. Second, I consider whether models of inflation determination with no … monetary policy strategy of the empirical evidence for a long-run relationship between money growth and inflation. (Here I give … consider reasons why a monetary policy strategy based solely on short-run inflation forecasts derived from a Phillips curve may …

policy are often based on references to low-frequency reduced-form relationships between money growth and inflation. The 'two … inflation determination, in which the quantity of money plays no role in inflation determination, at either high or low … forecasting inflation, either in the short run or over a longer run. Hence they provide little support for the ECB's monetary …

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 …

alleged inflationary effects of the new currency. In Italy, as in the rest of the euro area, survey-based measures signaled a … 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 …

This paper assembles an original panel of data from 2,500 restaurants in Italy over the 1998-2004 period. The main …

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 …