This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank … (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are two. First, although the … official inflation target range is 3.6 percent, in practice, the SARB seems to have aimed for the upper segment of the band (41 …

been to raise inflation targets to provide more room for policy rate easing during crises. This paper addresses a different … issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key conclusion … is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to m …

Intro -- Contents -- I. INTRODUCTION -- II. INFLATION AND MONETARY POLICY IN THE KYRGYZ REPUBLIC -- III. SEASONAL … CHARACTERISTICS OF CONSUMER PRICES -- IV. MODELING AND FORECASTING INFLATION -- V. CONCLUDING REMARKS -- References -- Appendix …

This paper analyzes the dramatic rise in U.S. inflation since 2020, which we decompose into a rise in core inflation as … measured by the weighted median inflation rate and deviations of headline inflation from core. We explain the rise in core with …-through into core from past shocks to headline inflation. The headline shocks themselves are explained largely by increases in …

supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have … had a sizeable impact on headline, food, and tradable inflation for a panel of 29 sub-Saharan African countries from 2000 … to 2022. Our findings suggest that central banks can stabilize inflation and output more efficiently by monitoring global …

Intro -- Contents -- I. OVERVIEW -- II. INSTITUTIONAL ARRANGEMENTS -- III. INFLATION TARGET DESIGN -- IV. MONETARY … POLICY COMMUNICATIONS -- Appendix. The Inflation Report -- REFERENCES. …

Intro -- Contents -- I. INTRODUCTION AND OVERVIEW -- II. LOW INFLATION OBJECTIVE AS NOMINAL ANCHOR -- III. PRINCIPLES … OF MONETARY POLICY GEARED TOWARD TARGETING INFLATION -- IV. INSTITUTIONAL SUPPORT FOR INDEPENDENT MONETARY POLICY -- V …

This is the third chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say."" It examines a number of elements in the design of an inflation …-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages …

This is the tenth chapter of a forthcoming monograph entitled, ""On Implementing Full- Fledged Inflation … introduction and implementation of inflation targeting regimes. It discusses their motivation for introducing IT; how they fared in …