This paper explores inflation dynamics and monetary policy in Bolivia. Bolivia's monetary policy framework has been … effective in stabilizing inflation in recent times. This has been a challenging task given high price volatility of key consumer … framework has contributed to the stabilization of inflation, with effective transmission through the bank lending channel, while …

Despite closing output gaps and tightening labor markets, inflation has remained low inthe euro area. Based on an … augmented Phillips Curve framework, we find that thisphenomenon-sometimes attributed to low global inflation-has been primarily … causedby a remarkable persistence of inflation, keeping it low despite the reduction in slack. Thisfeature is shown to be …

We develop a bottom-up model of inflation in the euro area based on a set of augmented Phillips curves for seven … subcomponents of core inflation and auxiliary regressions for non-core items. We use the model’s disaggregated structure to explore … improve on the ability to forecast inflation. In the baseline, the projection for core inflation is centered above 3 percent …

are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and … energy prices have been the main disinflationary driver. But low core inflation in the euro area has also had a clear and …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure …

Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical … for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising … underlying inflation by 1 percentage point. So, while inflation will remain volatile due to agricultural shocks, there is space …

This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period …-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real … output, foreign inflation, and the exchange rate. Long-run relationships in the money and traded-goods markets are found to …

We analyze the dramatic decline in India's inflation over the last two years using an augmented Phillips Curve approach …, we find that inflation is a highly persistent process in India, reflecting very adaptive expectations and the backward …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation,for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then …

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve … based on the assumptions that inflation expectations are fully anchored at the Federal Reserve's target, and that labor …-market slack is captured by the level of shortterm unemployment. This equation explains inflation behavior since 2000, including …