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This paper analyzes variations in the effects of monetary and fiscal shocks on responses of macroeconomic variables, determinacy region, and welfare costs due to changes in trend inflation.

The authors develop the New-Keynesian model, in which the central banks can employ either nominal interest rate (IR rule) or money supply (MS rule) to conduct monetary policies. They also use their capital and recurrent spending budgets to conduct fiscal policies. By using the simulated method of moment (SMM) for parameter estimation, the authors characterize Vietnam's economy during 1996Q1–2015Q1.

The results report that consequences of monetary policy and fiscal policy shocks become more serious if there is a rise in trend inflation. Furthermore, the money supply might not be an effective instrument, and using the government budget for recurrent spending produces severe consequences in the high-trend inflation economy.

This paper's findings are critical for economists and monetary and fiscal authorities in effectively designing both the monetary and fiscal policies in confronting the shift in the inflation targets.

This is the first paper that examines the effects of trend inflation on the monetary and fiscal policy implementation in the case of Vietnam.

The internet and search engines dominate within people’s information acquisition, especially among the younger generations. Given this trend, this study aims to explore if information and communication technology (ICT) practices, internet reliance and views of knowledge and knowing, i.e. epistemic beliefs, interact with each other. Everyday practices and conceptions among beginning undergraduate students are studied as a challenge for higher education.

The study builds upon survey-based quantitative data operationalising students’ epistemic beliefs, their internet reliance and their ICT practices. The survey items were used to compute subscales describing these traits, and the connections were explored using correlations analysis.

The results suggest that the more beginning undergraduate students rely on internet-based information, the more they are inclined to epistemic beliefs where knowledge is regarded as certain, unchanging, unambiguous and as being handed down by some authority.

The approach used in the study applies to the sample used, and further research is required to test the applicability of the approach on larger samples.

The study highlights the risk of everyday information practices being transferred into the educational context.

Ignorance of these changes may pose a risk for knowledge building on different educational levels and in a longer perspective, a threat to democracy.

While there is some research on epistemic beliefs in relation to internet-based information, studies approaching the problem over a possible connection between epistemic beliefs and internet reliance are scarce. In addition, this study implies a conceptual bridge between epistemic beliefs and internet reliance over the concept of algorithmic authority.