This paper revisits the Chilean experience with Inflation Targeting in the last 16 years with focus on a number of institutional characteristics that have favored or have even been a prerequisite for a good track record of inflation control. It also reviews particular macroeconomic outcomes, including changes in inflation dynamics, and a few selected practical issues, including the role of infl...

We previously demonstrated that nitric oxide (NO) contributes to compensatory vasodilation in the contracting human forearm subjected to acute hypoperfusion. We examined the potential role of an adenosine-NO interaction to this response in 17 male subjects (25 ± 2 yr). In separate protocols subjects performed rhythmic forearm exercise (20% of maximum) while hypoperfusion was evoked by balloon i...

On 21–22 July 1997, the Bank convened a conference entitled, 'Monetary Policy and Inflation Targeting'. The following excer pt is the introductory chapter of the conference volume. Medium-term price stability is widely accepted as the appropriate ultimate goal for monetary policy. This reflects two ideas. The first is that high rates of inflation distort decision-making, ultimately leading to s...

a new mathematical model for the optimal production isformulated for the inventory management system under time-varyingand stochastic inflation environment for deteriorating items. the timehorizon is finite and demand rate is dependent to the inflation. in thereal situation, some but not all customers will wait for backlogged itemsduring a shortage period, such as for fashionable commodities or...

In this paper, genetic programming (GP) is employed to model learning and adaptation in the overlapping generations model, one of the most popular dynamic economic models. Using a model of inflation with multiple equilibria as an illustrative example, we show that our GP-based agents are able to coordinate their actions to achieve the Paretosuperior equilibrium (the low-inflation steady state) ...

health price inflation rate is different from increasing in health expenditures. health expenditures contain both quantity and prices but inflation rate contains prices. this study aimed to determine the factors that affect the inflation rate for health care services (ircpihc) in iran.we used central bank of iran data. we estimated the relationship between the inflation rate and its determinant...

this paper reviews the relationship between inflation rate and minimum wage in iran’s economy over the 1969-2005. according to the economic literature, there is a narrow relationship between inflation rate and minimum wage. some economists believe in increased inflation due to minimum wage. the other group of economists considers the increased inflation as a cause for increasing minimum wage. t...

This paper studies the long run welfare costs of inflation in a micro-founded model with trading frictions and costly liquidity management. Agents face uninsurable idiosyncratic uncertainty regarding trading opportunities in a decentralized goods market and must pay a fixed cost to re-balance their liquidity holdings in a centralized liquidity market. By endogenizing the participation decision ...

Evidence on the portfolio holdings and transaction patterns of households suggests that the burden of inflation is not evenly distributed. We build a monetary growth model consistent with key features of cross-sectional household data and use this framework to study the distributional impact of inflation. At the aggregate level, our model economy behaves similar to standard monetary growth mode...

The majority of models of inflation in string theory predict an absence of measurable gravitational waves, r << 10−3. The most promising proposals for making string theoretic models that yield measurable tensor fluctuations involve axion fields with slightly broken shift symmetry. We consider such models in detail, with a particular focus on the N-flation scenario and on axion valley/natural in...