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

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 …

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 … inflation targeting regime has provided relevant information to economic agents on the monetary policy objectives, which has …

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter …

and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and … natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our … results demonstrate that, during the last year, inflation in the Euro area is more affected from energy price shocks …

We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …

policymaking. On the other hand, traditional core inflation measures may reduce volatility but do not address other issues and may … even exclude important information. This paper develops a new underlying inflation gauge (UIG) for China which … differentiates between trend and noise, is available daily and uses a broad set of variables that potentially influence inflation …

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 …

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 …

The purpose of the paper is to introduce the framework for decomposing the forecast of headline inflation, obtained by … core inflation. The model for inflation decomposition is a small structural model, set up in state space framework. Kalman … filter procedure is applied to filter the future paths of CPI components, given projected headline inflation obtained by …