Inflation persistence or ‘inertia’ has important consequences for monetary policy. Inflation which does not get … influence on inflation persistence by its credibility and responses in the face of inflationary shocks. In this study, we use a … flexible, time-varying parameter approach to analyze inflation persistence in the United Kingdom and United States during 1880 …

as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the … agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an …

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a … target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic … illustrating the key issues given the unique structural characteristics of India and the policy options under an FIT framework, the …

Inflation in Israel has been below the inflation target for over two years now and inflation expectations at short … horizons have followed actual inflation to below the target. The low inflation outturns are the result of sharp, negative … domestic policy mandated price declines. A number of other countries are also experiencing below-target inflation. This paper …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

The link between inflation and inflation uncertainty is evaluated using Peruvian data, in a context of changing … components is used. The model shows how periods of high (low) inflation accompany periods of high (low) short- and long …-run uncertainty in inflation. The results of the model also illustrate how, during the recent period of price stability in Peru, both …

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting … than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher …

to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …

Under inflation targeting inflation exhibits negative serial correlation in the United Kingdom, and little or no …, inflation appears to be (nearly) purely forward-looking, so that no mechanism introducing backward-looking components is … necessary to fit the data. These results question the notion that the intrinsic inflation persistence found in post-WWII U …

analysis proves that a higher degree of central bank independence would statistically improve the inflation performance in the … entire region and in the two subsamples, basically by lowering the inflation rates level and decreasing volatility. Finally …