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 … repo rate, the central bank's new operating target for inflation. As in other emerging and transition economies with a high …

This paper is the first attempt to look at inflation dynamics and monetary transmission mechanisms in Armenia in the …

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 …

Inflation rates rose sharply in the Philippines during 2018. Understanding the demand and supply sources of inflation … pressures is key to monetary policy response. Qualitatively, indicators have pointed to evidence of inflation pressures from …-structural model to decompose the contributions of various shocks to inflation. Our main findings are (1) supply factors (mainly global …

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 …

proportionally to inflation. We show that conditions under which these rules generate aggregate instability by inducing liquidity … that respond to expected future inflation are more prone to induce endogenous cyclical and chaotic dynamics the more open …

This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the … econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play …

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not … frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly … half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro …

This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open … inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers … illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of …

This paper investigates various output gap measures in a simple inflation forecasting framework. Reflecting the … pressures, including a gap could improve the accuracy of autoregressive inflation forecasting. This assertion is tested in a …