Controlling Inflation : The Problem of Non-Indexed Debt.
We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation rate. Conditions for this to occur are discussed in terms of ad hoc and micro-founded models. Solutions to the indeterminacy problem are examined; one solution is shown to be price...
| Korporativní autor: | |
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| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
1988.
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| Edice: | IMF Working Papers; Working Paper ;
No. 1988/029 |
| On-line přístup: | Full text available on IMF |