Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical … assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of … inflation expectations' anchoring using survey-based inflation forecasts for 45 economies starting in 1989. We then study the …

This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open … inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers … illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of …

Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate … inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically … significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and …

This paper investigates the inflation process in Slovenia through an examination of some commonly used determinants of … inflation in transition economies. Granger causality tests and an analysis of unrestricted VAR models suggest a strong linkage … inflation. While the growth in wages affects inflation, it appears that both changes in the exchange rate and growth in monetary …

Modifications to Japan''s monetary policy framework will be needed as positive inflation resumes because the current … an ""anti-deflation"" objective to an inflation objective, complemented by a shift of monetary operations from a …

Containing inflation has turned out to be one of the most challenging aspects of economic management in Iraq. This … paper posits that conventional as well as unconventional factors explain inflation dynamics in the recent past. We build a … fuel shortages, with implications for fuel and non-fuel inflation. A number of step-wise adjustments of administered prices …

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well …, underpinned by weak labor markets, slowing wage growth, and, in many cases, falling oil prices. Indeed, inflation declined by … about the same fraction of the initial inflation rate across episodes. That said, disinflation has tended to taper off at …

Zimbabwe has currently the highest rate of inflation in the world (an annual rate of 1,730 percent in February, 2007 …). The high rates of inflation have contributed to the contraction of the economy, which has declined by about 30 percent … since 1999. This paper examines the stabilization experience of countries that experienced similar rates of inflation (above …

inflationary expectations. The main element underlying Spain’s recent disinflation appears to be a fall in inflation expectations …

In recent years, many countries have successfully reduced their inflation rates to relatively low levels of 2 to 3 … percent. The question then arises as to whether it would be desirable to move to even lower rates of inflation. The paper … examines the benefits and costs of moving from low inflation to even lower inflation by drawing together recent work on this …