The introduction of inflation targeting in 2006, together with important economic developments such as dedollarization … the time inflation targeting was introduced and reduced levels of dollarization were observed. Results from introducing a …

estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …

variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …

, therefore, whether monetary policy is a less potent a device in affecting output and inflation in countries that have low levels … data suggests that the effectiveness of changes in policy interest rates in influencing the path of inflation appear to be …

by the variability of monthly inflation. Second, while substantial adjustments to interest rates on indexed assets affect … the cyclical position of output and inflation, there is no evidence of a stable, systematic relationship between these … three variables. In contrast, money growth and unexpected inflation play a significant role in the transmission mechanism …

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …

adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …