The objective of this paper isto investigate the impact of inflation targeting strategy on monetary policy transmission mechanism by estimating the impact of deposit rate on consumption to GDP ratio in emerging market economies. The study considers sixteen years of annual data from 2001 to 2016...

Deflation is currently considered as one of the most important threats for macroeconomic dynamics and, thus, it is argued that it should be avoided by all available means. We challenge this view because empirically it cannot be verified that deflation periods necessarily go hand in hand with...

Low price inflation is an official monetary policy target in many countries because of the positive effects it may generate on economic growth. However, if nominal wage rigidities exist, low price inflation may have a negative effect on economic growth. In this paper we test whether there exists...

Low price inflation is an official monetary policy target in many countries because of the positive effects it may generate on economic growth. However, if nominal wage rigidities exist, low price inflation may have a negative effect on economic growth. In this paper we test whether there exists...