This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their … excessive money creation. It is shown that even without policy precommitment or aversion to inflation, the availability of … alternative currencies can support an equilibrium with a finite, time consistent inflation rate …

Chinese inflation, particularly non-food inflation, has been surprisingly modest in recent years. We find that supply …-food inflation, as has foreign demand for Chinese goods. Domestic demand and monetary conditions seem less important, possibly … reflecting a large domestic output gap generated by many years of high investment. Inflation varies systemically within China …

This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …

-smoothing theory of debt determination …

This paper discusses the estimation of models of the term structure of interest rates. After reviewing the term …