the type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …

models of inflation targeting imply that an optimising central bank should continuously respond to shocks. This paper … bank will have an incentive to wait and see whether or not the economy will move closer to the inflation target of its own …

sense that it understands and observes the process by which private sector inflation expectations are generated, and one in … which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … accommodates private sector inflation expectations) is no longer constant across the disinflation, but becomes state …

In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework … inflation forecast targeting in two environments.One in which the central bank has perfect knowledge, in the sense that it …

We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the … perceived stability of the domestic currency and financial dollarization. Our results show that regions with higher inflation … to firms in non-tradable sectors. The impact of inflation on credit dollarization is weaker in regions with less …