The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent … of return variables. However, deviations of M2 from its long-run equilibrium value do not significantly enhance inflation … forecasts based on conventional output-gap models, a result that stands in contrast to the Federal Reserve’s P* relationship …

anti-inflation policy that has led to a sharp decline in inflation. To institute a monetary policy framework, a nominal … currency in circulation, conduct more sophisticated tests to assess the relationship between inflation and the monetary …

. Despite economic sanctions imposed by Russia in 2006, Georgia’s economic growth continues to be strong, and inflation has … declined. Growth is expected to reach 9 percent in 2006 and to slow only moderately to 7–8 percent in 2007. Inflation was …

with 2004 on account of both internal and external factors. Growth slowed to 4.1 percent in 2005, with agricultural output … falling as a result of floods, and industrial output growth slowing owing in part to the abolition of global textile quotas …

This Selected Issues paper analyzes the main determinants of inflation in Mongolia using empirical tests based on a … structural model approach and vector autoregression model, with a view to assessing whether inflation is predominantly affected … components of the inflation dynamics under various exogenous shocks. The paper also addresses the mineral wealth management …

Mechanism (ERM) of the European Monetary System can be expressed as a stable function of ERM-wide income, inflation, interest …

in broad money during the 1970s and 1980s and the sharp decline in the income velocity of broad money during 1986-88. The …

of fiscal deficits to inflation, output growth, and internal and external debt … options are simulated using the framework of the public finance approach to inflation. The simulations focus on the relation …