This paper classifies countries that define their monetary policy framework by an inflation target into full …-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on … indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as …

This paper provides some practical advice on establishing initial conditions in support of an inflation …-targeting monetary framework. These conditions are divided into four areas: a mandate in support of an inflation objective and …

Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i …

anti-inflation policy that has led to a sharp decline in inflation. To institute a monetary policy framework, a nominal … currency in circulation, conduct more sophisticated tests to assess the relationship between inflation and the monetary …

Economic growth has recovered, but higher food and fuel prices have sparked a sharp rise in inflation. Monetary policy … has been tightened to contain core inflation and effects of the food and fuel price shocks. The government has allowed for …

developments should be monitored closely and monetary policy tightened further should inflation pressures increase. The …

This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that … has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation … targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little …

-looking specifications, especially when targeting core components of GDP and inflation, and combine the best parts of efficiency and …