institutional conditions of its implementation. Kenya is a particularly interesting case as it is characterized by a rather long … prices and prices volatility are jointly estimated, using monthly data over the 1994-2009 period in Kenya. …

seigniorage. Building on a simple theoretical model where governments target inflation and aim at reducing deforestation while …

central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …

Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period … 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four …

inflation, both as an objective and as an intermediate instrument. We want to show that other variables like employment can be … that they can be function of employment only, which then dominates inflation for use in the policy rule. …