of central bank independence on inflation as promoting the theoretical benefits of a more stable and prosperous … activities; how does a government induce an agent to choose the formal economy. In the trade-off between inflation and reserve … requirements, the optimal policy is maximum inflation and minimum reserve requirements as increasing the steady-state utility of an …

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 …

, inflation, interest rates, exchange rates and international trade. The course is divided into five parts: The first presents the …