Batini, Nicoletta; Tereanu, Eugen - International Monetary Fund (IMF) - 2009
After a long period of global price stability, in 2008 inflation increased sharply following unprecedented increases in … the price of oil and other commodities, notably food. Although inflation remained lower and growth higher in inflation … world slowdown helped avert the worse, but inflation stayed high in many inflation targeting countries. This paper uses a …