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 …

agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an …

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a … target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic …

We assess the bivariate relation between money growth and inflation in the euro area and the United States using hybrid … statistically unstable across time in both regions. The effect of money growth on inflation weakened notably after the 1980s before … maximum impact of money growth on inflation is increasing in the trend level of inflation. These results caution against …

inflation. Through a novel consumption deflator decomposition, we show that import prices account for 40 percent of the average … convergence of inflation to target over the next two years. Monetary policy will thus need to remain restrictive to anchor …

This paper analyzes the inflation forecast errors over the period 2021Q1-2022Q3 using forecasts of core and headline … inflation from the International Monetary Fund World Economic Outlook for a large group of advanced and emerging market … information. Focusing on core inflation forecast errors in 2021, four factors provide a potential ex post explanation: a stronger …

This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period … 1970–2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal … with care in aggregate demand management as it has significant effects on inflation, which are highly dependent on fiscal …

What is the impact of climate change on inflation and growth dynamics? This is not a simple question to answer as … climate-related shocks affect inflation and economic growth also depends on long-run scarring in the economy and the country … investigate how climate shocks, as measured by climate-induced natural disasters, influence inflation and economic growth in a …

Inflation in low-income countries is often high and volatile, driven by external shocks. In addition, inflation in … stability. We estimate the drivers of inflation in Guinea since the early 2000s, a period in which the country suffered major … shocks from pandemics, commodity price movements, and multiple military coups, and during which inflation averaged 12 percent …