progressively opt for greater exchange rate flexibility as well as a monetary policy based on inflation targeting rather than … policies are reviewed and analyzed. Second, the theoretical sources of inflation (cost push and demand pull factors as well as … probabilities is estimated for Morocco and Tunisia to provide important information concerning the mechanisms underlying inflation …

stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior … inflation by and large through its key policy rate, though it appears to be accommodative with respect to the output gap. In …

the widely held interpretation of the ECB as an inflation targeter—and a rather soft one, too—it is argued that the key … and inflation persistence that owes to the ECB’s failure to internalize the euro area’s fiscal regime. This raises the … question as to whether inflation targeting would have led to better results, or could do so in future. …

This paper models an inflation forecast density framework that closely resembles actual policy makers behaviour … regarding the determination of the modal point, the uncertainty and asymmetry in the inflation forecasts. The framework combines …

The paper offers a new explanation for the cause of the Great Inflation by constructing a model that explicitly … separates the roles of government and monetary policymakers. A mechanism that inflation can accelerate even if an inflation … target is low is uncovered. The model solves the puzzle of the observed high inflation target during the Great Inflation and …

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation … expectations affect both inflation and output, and, on the other hand, how inflation expectations reflect developments in these … variables. The analyses make use of a simple VAR model of inflation, inflation expectations and the output gap that allows for …