Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. While it … is possible for the average inflation rate to be close to target, deviations of inflation could nevertheless be large and … protracted. We therefore explore how successful this framework has been by looking at the persistence of inflation, as measured …

changing nature of inflation dynamics. We estimate a series of VAR models for a set of six Asian emerging market economies, in … parts of inflation and output dynamics. The global shocks are procyclical with respect to the domestic components of …

the Taylor rule is beneficial if the central bank aims at optimally stabilizing inflation and output gap variability under … discretion. Placing a weight on deviations from a simple Taylor rule increases the overall relative weight of inflation … volatility in the effective loss function, which reduces the stabilization bias of discretionary monetary policy. The welfare …

We examine both the degree and the structural stability of inflation persistence at different quantiles of the … conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation … rate. As economic theory provides reasons for inflation persistence to differ across conditional quantiles, this is a …

We examine both the degree and the structural stability of inflation persistence at different quantiles of the … conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation … rate. As economic theory provides reasons for inflation persistence to differ across conditional quantiles, this is a …