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 …

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 …

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 …

possibility of conflict (dispute) between credit card companies and merchants. Using the theory of two-sided markets, this paper …