This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The … inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks … leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy. …

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …

nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union … levels. This paper reviews Turkey’s policy performance in terms of growth, inflation, debt, fiscal and financial sector …

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of … perception of risk by markets. We also find some weak evidence that IT countries did better on unemployment rates and advanced IT …