reaction function. The parameter estimates differ in two regards: the NEER responds to inflation in Singapore but not in Hong … variability of inflation has been lower in Singapore, but the volatility of real economic activity has been similar in the two …

Economists on "The evolving inflation process" which the BIS hosted on 28-29 October 2005. The paper first discusses efforts to … document the univariate statistical properties of inflation and how they have changed over the last decades. It then reviews … studies of disaggregated or micro inflation data and evidence from surveys of firms concerning their pricing behaviour. Using …

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought …

-stage pass-through is associated with the emergence of the low and stable inflation environment as well as a rise in import … penetration, while the relationship to the inflation environment is weak for first-stage pass-through. …

This paper aims to explain differences in inflation between six central European economies - Croatia, the Czech … productivity differentials explain on average only between 0.2 and 2.0 percentage points of annual inflation differentials vis …-à-vis the euro area. Productivity differentials also explain only a small proportion of domestic inflation in central European …

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought …

exchange rate in recent years in the context of inflation targeting. We find that emerging market economies, being more exposed … not attended to the exchange rate in a manner that contradicted their announced inflation commitments. Furthermore, recent … experience shows that having to keep an eye on the exchange rate is also a fact of life in industrial economies, inflation …

Monetary policymakers and long-term investors would benefit greatly from a measure of underlying inflation that uses … all relevant information, is available in real-time, and forecasts inflation better than traditional underlying inflation … measures such as core inflation measures. This paper presents the "Federal Reserve Bank of New York (FRBNY) Staff Underlying …

The headline consumer price inflation (CPI) is often considered too noisy, narrowly defined, and/or slowly available … for policymaking. On the other hand, traditional core inflation measures may reduce volatility but do not address other … issues and may even exclude important information. This paper develops a new underlying inflation gauge (UIG) for China which …