of our financial and economic systems. This study examines the applicability of the Integrated Inflation Targeting (IIT … inflation and growth in its policy decisions, with some responsiveness to the increase in household debt. However, the … inflation, growth, and being mindful of household credit conditions is superior. It suggests that the policy of actively …

, such as, domestic economic growth and inflation. In particular, the asymmetric response of macroeconomic variables to the … oil price increase shocks, it reduces economic growth and increases the inflation rate, but oil price decrease shocks do … is -0.05%, while that against the inflation rate is 0.081%. But oil production shortfall shocks do not have an asymmetric …

English Abstract: This paper investigates the experience of inflation targeting in Korea with an emphasis on exchange … rate management. The Korean call rate responded to not only expected inflation, but also to output gap and changes in the … inflation. We also examined whether Korean inflation targeting was actually centered on the exchange rate by estimating the …

optimal monetary policy. It shows that the domestic price index inflation targeting rule is not optimal in the small open … and inflation gap is better than the interest rate rule disregarding the exchange rate gap in terms of the welfare cost …