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 …

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 …

In open economy, a choice can be made between two measures of inflation for use as a target variable: CPI inflation or … domestic inflation. This paper considers flexible and strict inflation targeting strategies and explores the circumstances … under which a domestic inflation target is preferred to a CPI inflation target. This is done from the perspectives of the …

. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …

Inflation targeting is a regime based to a great extent on communication and, more specifically, on using and … communicating assessments of future inflation. The central banking literature, however, devotes surprisingly little attention to … future inflation assessments on three distinct levels: construction, decision making and communication. One of the most …

caution, and obsession with low inflation. In looking at the foundations of the two banks’ strategies, however, we do not find …