We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective …" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas …. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective …

This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank … (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are two. First, although the … official inflation target range is 3.6 percent, in practice, the SARB seems to have aimed for the upper segment of the band (41 …

This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African … exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a …

inflation-targeting regime over the medium term. We find that the capability of monetary policy to influence economic activity … and inflation is still limited, as important channels of monetary transmission are not fully functional. In particular …, the interest rate channel remains weak, even though there is some evidence of transmission to prices of changes in the …

wage bill. Hence, monetary policy tightenings increase effective unit labor costs of production, and might imply an … increase in inflation. The model explains the joint dynamics of output, inflation, real wages, and interest rates, and is …

, through the supply channel, has limited effects on output growth and inflation. Unanticipated currency fluctuations appear … more significant, with varying effects on output growth and price inflation across developing countries. …

One of the pioneers of inflation targeting (IT), the Bank of Canada is now considering a possibility of switching to … price-level-path targeting (PLPT), where past deviations of inflation from the target would have to be offset in the future … has strayed little from the path implied by the two percent inflation target since its introduction in December 1994, and …