reacted to expected inflation, output gap, and won/dollar exchange rate, as expected by theory. Second, it identifies the …English Abstract: The global financial crisis has exerted enormous impacts on the attainment of inflation target in … Korea. The annual average CPI inflation was 3.3% during the targeting period of 2007-2009 and the target was 3.0±0.5%. Thus …

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

, 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 …

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 …

the “price puzzle”, concluding that the estimated response of inflation is positive to the contractionary monetary policy …