responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …

of past experience and international best practices. It confirms that food inflation has been the driver of domestic … inflation. The paper studies the recommendations of the Urjit Patel Committee and comments that monetary policies predominantly … focussed on inflation targeting may not necessarily be effective in India where inflation and inflationary expectations …

In this paper, we investigate the effects of monetary policy concerning the inflation rates specific for each income … the different inflation rates specific for each of the income groups. By using a Factor-Augmented VAR (FAVAR) model, we …

This paper conducts a structural analysis of inflation persistence in the United Kingdom between 1965-2009. I allow for … and stochastic shock volatility. The first policy regime responds passively to movements in inflation, adjusting the … other regime responds actively to inflation and places less weight on exchange rate movements. This regime is present for …

This paper posits an information channel as the explanation for sudden inflations. Consumers saving via nominal … government bonds face a choice whether to acquire costly information about future government surpluses. They trade off the cost … of acquiring information about the surpluses that back bond repayment against the benefit of a more informed saving …

We exploit a hidden Markov model where inflation is determined by government deficits financed through money creation … and/or by destabilizing expectations dynamics (expectations can potentially divorce inflation from fundamentals). The … baseline model, proposed by Sargent et al. (2009), is used to analyze the interaction between fiscal deficits, inflation …

repo rate in response to increases in the output gap and, except in Peru, to deviations of inflation expectations from … of integrated inflation targeting. There is strong evidence that intervention in F/X markets is determined by exchange … strong currency. Central banks appear to have pursued an inflation objective using a standard Taylor rule and an exchange …

inflation targeting regime has provided relevant information to economic agents on the monetary policy objectives, which has …The establishment of the inflation targeting regime in Paraguay is relatively recent, however, the results have been … only reduce inflation levels, but also align inflation expectations along the medium-term inflation target. Previously the …