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 …

sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries … of inflation variability, as predicted by the fiscal theory of the price level …

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 …