analysis of inflation, external debt and financial sector reform in Turkey … macroeconomic targets, such as output growth and the rate of inflation. The model centers around the government budget constraint … and can be used to either derive the financeable deficit given inflation targets, or to derive an equilibrium inflation …

Optimal tax theory has shown that, under weak assumptions, indirect taxation such as production subsidies, tariffs, or …. However, these important results of optimal tax theory, namely production efficiency and uniform commodity taxation under non …

An asset-pricing perspective on inflation reveals that it depends on current and expected monetary and fiscal policies … rates of return of these assets, and determine the price level and the inflation rate. The paper considers a tax reduction … cut can imply very different outcomes for inflation …

common monetary authority chooses inflation for the union, also without commitment. We first describe the existence of a … wisdom that all countries should prefer a union with low-debt members, as such a union can credibly deliver low inflation …

appointment of Volcker marked a change in the conduct of monetary policy, but inflation dropped only when fiscal policy … accommodated this change two years later. In fact, a disinflationary attempt of the monetary authority leads to more inflation if … been confident about the switch, the Great Inflation would not have occurred and debt would have been higher. This is …

current and future inflation innovations to revalue government debt, reducing reliance on distorting taxes; (2) the role of … inflation in optimal fiscal financing increases with the average maturity of government debt; (3) as average maturity rises, it … is optimal to tradeoff inflation for output stabilization; (4) inflation is relatively more important as a fiscal shock …

. Inflation may be positive throughout, so the absence of deflation is not evidence against a liquidity trap. Output, on the other …