In the aftermath of a major financial crisis in the 1990s, price stability has become an important argument of the future monetary policy stance in many emerging economies. As such, emerging economies in Asia and Latin America have switched to inflation targeting as their monetary policy. This...

This study examines the development of monetary theory and various policy frameworks as implemented at the time of writing. The aim of the study was to determine the effect of monetary policy on disintermediation and re–intermediation throughout the periods of the various monetary policy...

Is inflation targeting an appropriate framework for monetary policy? Experience from the inflation-targeting countries countries are optimistic about inflation targeting as a monetary-policy framework. South Africa is also following this trend.The international literature review of the topic...

Information asymmetries seem to play an important role in monetary economics. We consider three forms of information transmission which can be used to alleviate these information asymmetries. First, if information is verifiable or the publication of information is in the central bank's interest,...

In recent years the New Keynesian Model with price stickiness of the Calvo type has become the most widely used theoretical framework for addressing various normative issues such as how optimal monetary and fiscal policy should be conducted. However, the New Keynesian Model has been criticized...