Exchange-rate-based inflation stabilization programs cause a sizable loss of inflation tax revenue and thus open a … of inflation tax revenue in the context of an exchange-rate-based stabilization program in an open economy with sticky … prices and monopolistic competition. The combination of smaller monetary and larger tax distortion in the low-inflation …

the determinants of telecommunications investments and presents two possible solutions to the investment problem. The …

Asset pricing models have only partially captured the true inflation risk of equities. The contribution of this paper … is to identify and quantify the extra inflation tax on equities that results when ownership of physical capital is … divided by inflation. We then derive the standard asset-pricing conditions from the consumer's Euler equations and show that …

Neoclassical analysis of the labor market and its institutions. A systematic development of the theory of labor supply …

explain the development of inflation dynamics and the formation process of inflation expectations of households respectively. We …

-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 …

question and to estimate the model.My second chapter revisits the welfare cost of anticipated inflation in an incomplete … provides an insurance channel to individuals against changes in the return on nominal balances through inflation as documented … by Aguiar and Hurst (2007) and McKenzie and Schargrodsky (2011). In my model economy, a higher level of inflation affects …

which the median voter chooses the inflation rate. I use an environment where individuals face an uninsurable idiosyncratic … labor productivity shock, and money is the only asset. Being an effective tax on savings, inflation acts as a redistribution … mechanism transferring resources from the rich to the poor. I show that the median voter chooses a positive inflation rate as …

If there is one thing economists agree on, probably it is that inflation is a monetary phenomenon. Money also is … predicting Turkish inflation and output growth in last two decades both in-and out-of-sample. We used all time series approaches … information in predicting inflation and output in Turkey. Divisia aggregates have superior information content in predicting …