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 …

-looking specifications, especially when targeting core components of GDP and inflation, and combine the best parts of efficiency and …

This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time …-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using …

times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …

higher food shares in CPI baskets, fuel intensities, and pre-existing inflation levels were more prone to experience … scores seem to have contained the impact of these shocks better. The effect of the presence of inflation targeting regimes … inflation responds to international commodity price shocks …

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 …