with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

Norway adopted an inflation targeting framework in early 2001, thus concluding its gradual but consistent move toward … countries that had adopted inflation targeting frameworks prior to Norway. Norway's role as a commodity exporter exposed to …

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …

inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation …) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are … largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is …

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

We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for …-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest … inflation. Third, we perform an out-of-sample forecast to identify where the economy—and therefore policy—was likely headed …

for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the … effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time. …