This paper investigates the question of whether a transition to a low-inflation environment, induced by a shift in … from previous empirical work in its focus on the identification of changes in the inflation environment and its use of a …, supports the hypothesis that exchange rate pass-through declines with a shift to a low-inflation environment brought about by a …

dollars to prices of resource-based commodities, and inflation targeting. This paper explores various aspects of these … phenomena. It uses standard empirical models, and an investigation of the different approaches to inflation targeting in the … helpful to macroeconomic stability. It appears that the most effective monetary policy approach focuses on domestic inflation …

an inflation surprise and the nominal exchange rate can tell us something about how monetary policy is conducted …. Specifically, we show that 'bad news' about inflation -- that it is higher than expected -- can be 'good news' for the nominal … exchange rate -- that it appreciates on this news -- if the central bank has an inflation target that it implements with a …

The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation …) framework as the response of domestic inflation to an impulse in import price inflation. This approach allows them to examine …