This paper develops a small model of the output-inflation process in the United States in order to examine the … interest rates respond contemporaneously to output and inflation and a forward-looking policy rule that exploits information … model of inflation where positive deviations of aggregate demand from potential are more inflationary than negative …

In this paper, we argue that inflation targeting could be the future of Tunisia's monetary policy. Monetary targeting … reserves, current account deficit, and inflation differentials with main trading partners. The Central Bank of Tunisia has … already made important progress toward inflation targeting. The paper evidences the existence of increasingly effective …

currency by keeping inflation low and steady. This paper provides evidence that monetary policy tightening aimed at maintaining … low and stable inflation could at the same time reduce consumption inequality over a 12-18 month horizon, commonly … benefit mainly from lower inflation. By contrast, the real consumption of individuals at higher ends of the consumption …

Inflation rates rose sharply in the Philippines during 2018. Understanding the demand and supply sources of inflation … pressures is key to monetary policy response. Qualitatively, indicators have pointed to evidence of inflation pressures from …-structural model to decompose the contributions of various shocks to inflation. Our main findings are (1) supply factors (mainly global …

Anchoring of inflation expectations is of paramount importance for central banks' ability to deliver stable inflation … and minimize price dispersion. Relying on daily interest rates and inflation forecasts from major financial institutions … the dispersion of inflation expectations, a proxy for the extent of anchoring, which is based on the same analysts …

inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalization in their economies … changes in institutions, suggest that incentives may be diminishing, but not to the point where inflation levels below 5 … inflation, and enhancements to central bank independence could help shield these central banks from pressures …

This paper reexamines the effects of inflation targeting on output stability. It considers an economy with staggered … output and inflation. The paper shows that, if some price shocks can be anticipated, the effects of inflation targeting … depend critically on the inflation indicator being targeted. Specifically, targeting headline inflation can severely …

examine the output gap’s usefulness. The results suggest that although output gap uncertainty leads to more inflation and … policy based only on observable inflation and output growth …

Financial instruments are subject to inflation taxes on the wealth they represent and on the nominal income flows they … production and shows that the value of the firm in this case is equal to the firm’s capital stock divided by inflation. The … resulting asset-pricing conditions indicate that the effect of inflation on asset returns differs from the effects found in …