forecasting CPI inflation over the last 10 years (2002Q1-2011Q4). As for the alternative indicators, we select a few concepts of … headline CPI rather than core CPI, and the indicators forecast inflation jointly rather than individually. The better … performance of the alternative indicators is mainly due to their leading correlation with inflation and real activity as well as …

English Abstract: This study examines the influence of global and country factors on inflation movements in Korea using … a multilevel factor model. Our results indicate that global factors were significant drivers of inflation in Korea … during the high inflation era of the 1970s, as well as in recent periods following the COVID-19 pandemic. On the other hand …

, 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 …

. Fourth, firms are found to keep their product prices unchanged unless there are large changes in costs, demand or inflation … reduced impacts on inflation. When the frequency of price adjustments increases, the effects of monetary policy are analyzed …

(ii) is redistributive in favor of the (borrowing-constrained) poor, by targeting an inflation measure that overweighs the …

English Abstract: This paper studies, from a quantity theory of money perspective, the reasons that North Korean … inflation and exchange rates maintain stability while its economy is experiencing difficulties due to the international … management of its exchange rate, using both domestic and foreign currencies in an analytic model based on the quantity theory of …