Losing the Inflation Anchor

° 2008 - 02 Inflation targeting drawbacks in the absence of a ' natural ' anchor

The economic performances of the Eurozone look weaker than those of the United States over the period 1999-2006, in spite of the fact that the former applies more thoroughly the 'new macroeconomics' governance rules concerning public deficits and inflation control. The literature emphasizes Alan Greenspan's pragmatism when discussing the relative success of the Fed, but the reasons why pragmati...

The Relation Between Inflation and Inflation Uncertainty In Iran

Losing the MRSA label.

There are some things you might want to be for life. A credit card holder. A frequent flyer. Someone who likes to work out.Butnoonesays,“IwanttobelabeledasMRSApositive.” Methicillin-resistant Staphylococcus aureus (MRSA) leads to 250 000 hospitalizations in the US per year, and some 10 000 deaths (http://wwwnc.cdc.gov/eid/article/ 13/12/07-0629_article.htm). Moreover, it is hard to shake; in ad...

Still Losing the Race?

W I got my doctorate in linguistics from Stanford University in 1993, the furthest thing imaginable to me was that, ten years later, I would be in the midst of a second career as a pundit on race issues, let alone find myself classed as a black conservative. True, in college and graduate school, I had felt frustrated and dismayed whenever a successful black of my acquaintance would go out of hi...

The Welfare Cost inflation in Iran

The purpose of this paper is to estimate the welfare cost of inflation in Iran. We first use the long-horizon regression approach developed by Fisher and Seater (1993) to obtain an estimate of the inflation rate elasticity of money demand and then the Baily’s consumer surplus approach to calculate the welfare cost function. The results show that reducing inflation rate from 40% to 0% increases ...