CPI weights to account for the changes in spending patterns increases the estimate of inflation over the early months of … the underestimation of inflation. Updated CPI weights should be developed as soon as is feasible, but flux in spending …

The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper … constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass …, and more closely related to headline inflation over the next year. The weighted median also has a drawback: in most …

This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5percent. This …

We study inflation dynamics in Colombia using a bottom-up Phillips curve approach. Thisallows us to capture the … different drivers of individual inflation components. We find that thePhillips curve is relatively flat in Colombia but steeper … indexationdynamics are important for non-tradable goods. We show that besides allowing for a moredetailed understanding of inflation …

owing to one-off effects of trade liberalization and inflation stabilization. The estimated unmeasured gains are higher for …

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices …

prices to forecast movements in retail prices in the inflation-targeting framework followed by the U.K. monetary authorities …

regime of nominal exchange rate bands. Initial conditions in Colombia contrast sharply with those of other cases in which … bands were part of an ongoing effort to reduce high inflation. This paper argues that the change in regime was motivated by … a change in policy objectives. Starting from a policy whose rationale implied targeting stable inflation, a simple …

This paper focuses on monetary and exchange rate policies in Colombia, with particular emphasis on the period 1999 …-2002, when flotation of the peso and inflation targeting were adopted. We argue, first, in favor of adopting quot …;operational inflation target rangesquot; and, second, in favor of strengthening the current scheme of foreign exchange options. The impact …