-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …

Drives Inflation. Chapter IV introduces a second model of a corrupt central banker, one who sells inside information … general seems to increase the inflation rate. My model of the corrupt central banker provides a new explanation of this effect …, that is, that corruption leads to a higher rate of inflation and/or higher seigniorage, will be tested for a cross …

This paper examines if dollarization has had a positive impact on the macroeconomic stability of Latin American …. Currently four Latin American countries are officially dollarized and the rest experience varying levels of unofficial … dollarization. Data from the World Bank World Development Indicators for 21 Latin American countries from 1960 to 2003 are analyzed …

Bundesrepublik Deutschland auseinander. Dazu wird der Sektor nach der Systematik der BACH-Datenbank der europäischen Kommission in 10 … einer Dominanz der Geldpolitik als Angebotsschock erklärt werden. Zu einem großen Teil bleibt die identifizierte …

equilibrium to achieve a simple, linear model, that only depends on inflation, the output gap, and the interest rate, in the case … inflation dynamics is crucial. Because of the controversial debate on the importance of expectations, the consequences of … central banks should react stronger to changes in inflation and output under uncertainty. Furthermore, it is shown that …

inflation.Whereas extensive research on the transmission mechanism has been conductedin developed countries, such work in …

The current discussion of Inflation Targeting (IT) in emerging economies deals with the effects that nominal exchange … rate movements have on the overall inflation rate. The literature has focused in the analysis of the advantages and …-through effect into inflation. So far none of them have dealt with the differences arising from the policy instruments used to fight …

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for … inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the … at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return …