Prices in Russia have been decontrolled in several steps since early 1991, after decades of near-fixity. Their behavior …

This paper examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate … main results suggest that an exogenous increase in the short-term interest rate tends to be followed by a decline in prices … variations in the short-term interest rate account for significant fluctuations in the nominal exchange rate and prices, while …

This paper explores the sources of inflation in Sub-Saharan Africa by examining the relationship between inflation, the … inflation, albeit with a larger role played by the money gap. There is no significant evidence of asymmetry in the relationship. …

been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term. …

Power Parity data for 51 countries from stage IV of the ICP project supports the hypothesis that domestic indirect taxes … tend to raise the general price level. In contrast to the accepted view, other prices do not seem to decline to offset the … effect of such taxes on the price of tradables. The paper also presents some new evidence on the other factors which cause …

Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic … forward-looking pricing behavior without inflation stickiness and attribute the slow decline in inflation to the consumption …-looking pricing behavior in Mexico and Turkey, two countries which have experienced ERBS. It finds that the forward- and backward …

This paper uses a two-sector model to estimate the relationship between prices, money, and the exchange rate in … monetary aggregates, domestic prices, real income, and foreign interest rates. In addition, the error-correction model shows … inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …

-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary … inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission …

factors argued to explain the differences in the trends in core inflation and relative prices in the United Kingdom, the Euro …