equilibrium theory. Consider, for instance, the case of the efficiency of forward exchange rates vis-a-vis spot rates. Depending …

of the social conflict theory of inflation and creates cyclical indices of fiscal stance for developing countries …In the second essay a game-theoretic model is presented which formalizes the role of deficits in the conflict theory of … theory of inflation. Estimates are made for a hybrid of the cyclically neutral budget which reflects a macroeconomic target …