, the central bank shifted from implicit to explicit inflation targeting in 2006 and set a medium-term inflation target of 4 …%, applicable from end 2007. However this objective faced with two important challenges. On the one hand, inflation inertia settled … in and non-tradable inflation stagnated at more than 10%, further fuelled by persistent surge in global commodity and …

between central bank financial strength and inflation using an unbalanced panel data set for a sample of selected advanced and … strength and inflation. This relationship is robust in the presence of other determinants of inflation and for alternative …

stability. These questions are: (1) what are the economic costs of inflation? (2) what part does monetary policy play in the … short- and medium-term evolution of inflation? (3) what are the most appropriate monetary policy strategies for fighting … inflation? …

stable rates of inflation in many countries. Consequently, the main goal of this Paper is to offer an overview of the main … policy issues arising in a low inflation environment and their practical relevance so as to identify the main challenges … nominal wage or price rigidities? What does the low inflation environment imply about the relative importance and effects of …

The fiscal theory states that inflation adjusts so that the real value of government debt equals the present value of … determines the path of expected inflation, while news about the present value of surpluses drives unexpected inflation. I use … fiscal theory to interpret historical episodes, including the rise and fall of inflation in the 1970s and 1980s, the long …