This paper investigates the international spillovers of government debt and the associated risk of inflation within a … inflation at the cost of the funded country. In response to these conflicting interests about inflation, inflation risk may rise … with the level of debt in the PAYG country. Higher inflation risk harms both countries. Actually, in contrast to the debt …

This paper investigates the international spillovers of government debt and the associated risk of inflation within a … inflation at the cost of the funded country. In response to these conflicting interests about inflation, inflation risk may rise … with the level of debt in the PAYG country. Higher inflation risk harms both countries. Actually, in contrast to the debt …

This paper applies the fiscal theory of price level determination to the case of a monetary union. A fiscal perspective …

taxation but suffers only part of the costs of union-wide inflation and higher interest rates, creating a tendency towards …

), the problem of instability is simply transferred to inflation rate differentials, what we call the (impossibility of the …) "uncovered inflation rate parity condition" in a monetary union. The analysis of the actual divergences and imbalances in the EMU …, then, suggests that failure to respect the "uncovered inflation rate parity condition" in a monetary union may lead to …

In this paper we examine the impact of domestic and ERM-wide monetary conditions on national inflation rates in Belgium … matter for inflation in Germany. This points to the need for greater attention for the development of aggregate European …

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their … indicate substantial improvements in inflation and unemployment. Amongst the founding states, Ireland has idiosyncratically …