the main purpose of this research has been to investigate whether inflation targeting improves macroeconomic performance as measured by the behavior of inflation, economic output and their variability among the countries employing inflation targeting. in this regard we have looked for empirical evidence in a world sample of 21 developed and developing inflation targeting countries before and af...

This paper examines the idea that the rate of inflation tends to increase nominal government expenditures faster than government revenues. it concludes that while government expenditures rise concurrently with inflation, real government revenues tend to fall based on collection tags. Empirical results using time series data for Iran support our expectations in which the longer is the delay in g...

We adopt mechanism design to study the long-run consequences of inflation on aggregate output, trade, and welfare. Our theory captures multiple channels for individuals to respond to the inflation tax: search intensity (the intensive margin), market participation (the extensive margin), and substitution between money and a higher return asset. To determine the terms of trade in pairwise meeting...

A decade ago, in July 1990, the Australian economy had just entered a severe recession. Real GDP slowed in the first half of 1990, and then began to fall in the second half of the year. The rate of unemployment in mid 1990 was around 63/4 per cent but rose sharply in the following year. The rate of inflation was around 6 per cent, but was about to decline quickly, to levels not seen since the e...

We dissected the relative contribution of arteriovenous hemodynamics, the venoarteriolar response (VAR), and the myogenic reflex toward a decrease in local blood flow induced by venous congestion. Skin blood flow (SkBF) was measured in 12 supine subjects via laser-Doppler flowmetry 1) over areas of forearm and calf skin, in which the VAR was blocked by using eutectic mixture of local anesthetic...

UNLABELLED Although the mechanism of tourniquet-induced hypertension is still unclear, plasma norepinephrine concentrations continuously increase in parallel to arterial blood pressure during tourniquet inflation. Clonidine attenuates hyperadrenergic and hyperdynamic responses. We investigated the effects of clonidine on prolonged tourniquet inflation. Twenty-nine patients scheduled for electiv...

Studies of inflation targeting make the distinction between strict and flexible inflation targeting. The problem of strict inflation targeting has so far been analysed by treating it as a special case of a standard optimal control problem and the algorithms used have not provided an exact solution. This paper presents a formal solution to the problem of strict inflation targeting in a economy w...

Monetary policy affects both real variables, such as employment, unemployment and output, and nominal variables, such as nominal interest and inflation rates. For close to a decade, the principal focus of monetary policy has been on inflation. During a recession, or when one appears imminent, the state of real variables such as GDP growth has been a paramount consideration, but at other times, ...