monetary policy will move toward an inflation-targeting framework. The paper explores some of the practical aspects of this … move, including such issues as the predictability of inflation, the definition of the price index, the inflation target …’s time horizon, and the width of the inflation-target bands. On balance, the empirical evidence suggests that Korea is likely …

facing the Czech Republic. In the context of the recent rising inflation pressures, we analyze how the authorities'' fiscal … reform package and the planned reduction in the inflation target in 2010 would weigh on the conduct of monetary policy …

Inflation-targeting central banks have a respectable track record at explaining their policy actions and corresponding … inflation outturns. Using a simple forward-looking policy rule and an assessment of inflation reports, we provide a new … methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools-inflation …

This is the fourth chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation- Targeting … accountability in an inflation-targeting regime. It first looks at the factors behind the move to increased transparency in recent …

The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market … impact on real and financial sectors, it does not preclude the use of inflation targeting as a policy regime …

After a long period of global price stability, in 2008 inflation increased sharply following unprecedented increases in … the price of oil and other commodities, notably food. Although inflation remained lower and growth higher in inflation … world slowdown helped avert the worse, but inflation stayed high in many inflation targeting countries. This paper uses a …

This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function …. The model highlights problems associated with the practice of setting a series of rigid near-term inflation targets. Also …

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of …

the objective of price stability. Thus, when the 2007 - 08 supply shock and the financial crisis hit the world, the LA5 …