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The Long-Run Costs Of Moderate Inflation, Gregory Hess, Charles S. Morris
The Long-Run Costs Of Moderate Inflation, Gregory Hess, Charles S. Morris
CMC Faculty Publications and Research
Long-run price stability is generally considered to be a primary goal of monetary policymakers in many countries. One reason policymakers care about inflation is that it can harm economic performance. Numerous studies of the impact of inflation on economic performance have focused on whether increases in inflation reduce economic growth in the long run (Barro, Fischer 1993, Bruno and Easterly, and Clark). These studies have found that prolonged high inflation does in fact reduce economic growth, but they were not able to detect a significant long-run relationship between real growth and low or moderate inflation. Because anti-inflationary policies typically have …
Modular Spaces And K-Widths, Asuman Güven Aksoy, Grzegorz Lewicki
Modular Spaces And K-Widths, Asuman Güven Aksoy, Grzegorz Lewicki
CMC Faculty Publications and Research
In this paper, we show that the ball measure of noncompactness of a modular space Xp is equal to the limit of its K -widths when p is a left continuous, s-convex modular function, without any ∆2-condition. We also obtain a similar result for SF-spaces, when the SF-norm N is uniformly continuous.