Charles Freedman

TL;DR: The second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say" as mentioned in this paper discusses the costs of inflation, including their role in generating boom-bust cycles.

TL;DR: The authors used the IMF's Global Integrated Monetary and Fiscal Model to compute shortrun multipliers of fiscal stimulus measures and long-run crowding-out effects of higher debt, and found that a permanent 0.5 percentage point increase in the U.S. deficit to GDP ratio raises the U.,S. tax burden and world real interest rates in the long run.

TL;DR: The second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say" as mentioned in this paper discusses the costs of inflation, including their role in generating boom-bust cycles.

TL;DR: In this paper, the authors present a model for inflation targeting under imperfect policy credibility, which modifies the conventional model in three ways: an endogenous policy credibility process, by which monetary policy can gain or lose credibility over time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function.

TL;DR: The authors used the IMF's Global Integrated Monetary and Fiscal Model to compute short-run multipliers of fiscal stimulus measures and long-run crowding-out effects of higher debt, and found that a permanent 0.5 percentage point increase in the U.S. deficit to GDP ratio raises the world real interest rates in the long run, thereby reducing U. S. and rest of the world output by 0.3-0.6 and 0.2 percent, respectively.