Why do countries delay stabilizations of large and increasing budget deficits and inflation? And what explains the …

This paper examines the inflation targeting experience in three transition countries: the Czech Republic, Poland and … Hungary. While the examined countries have missed inflation targets often by a large margin, they nevertheless progressed well … with disinflation. A key lesson from the experience of the inflation targeting transition countries is that economic …

longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using … the 100 percent threshold as the basis for a definition of very high inflation episodes, this paper examines the main … characteristics of such inflations. Among other things, we find that (i) close to 20 percent of countries have experienced inflation …

This paper outlines what inflation targeting involves for emerging market/transition countries and discusses the … advantages and disadvantages of this monetary policy strategy. The discussion suggests that although inflation targeting is not a …

changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price … by a peg does not compensate for the loss of monetary independence. Inflation targeting yields the highest welfare level …

This paper considers the performance of average inflation targeting (AIT) policy in a New Keynesian model with adaptive … inflation targeting policy. Policymakers can improve outcomes under AIT by (i) targeting a discounted average of inflation, or …

Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation … variability outcomes, revealing national central banker's relative weight on output and inflation variability in their preferences …. We use estimates of the structure of 23 industrialized and developing economies, including nine that target inflation …

exchange rate economy. The framework of analysis is one of rational expectations with respect to interest rates, inflation and … need to understand the relationship between intervention and inflation …