support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to …

regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by …-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country …

rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a … inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank …

the following question: Were it not for an inflation targeting framework underpinned by a flexible exchange rate regime …

This paper reviews the historical performance of monetary policy in Nigeria and discusses the relative merits of … alternative monetary policy strategies that Nigeria could adopt in the future, once the many operational issues that today … obstruct the conduct of monetary policy have been addressed. An analysis of external and fiscal dominance in Nigeria reveals …

This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that … treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two …

This paper explores inflation dynamics and monetary policy in Bolivia. Bolivia's monetary policy framework has been … effective in stabilizing inflation in recent times. This has been a challenging task given high price volatility of key consumer … framework has contributed to the stabilization of inflation, with effective transmission through the bank lending channel, while …

Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real …-time inflation forecasts of the Bank of Canada with the aim of identifying potential areas for improvement. Not surprisingly, the … results show that errors in forecasting non-core inflation (commodity prices et cetera) are found to be the largest …