This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

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 …

-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the … financial and economic development and recent inflation history. …

Modifications to Japan's monetary policy framework will be needed as positive inflation resumes because the current … an "anti-deflation" objective to an inflation objective, complemented by a shift of monetary operations from a …

some of the area's institutional features, which may impart considerable persistence to area-wide inflation, caution … against shifting to conventional inflation targeting. But the time series evidence also seems to point to a relatively loose … connection between variations in nominal money growth and inflation in the short to medium run. As a consequence, effective …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

This paper studies the role of central bank communication of its economic assessment in shaping inflation dynamics … agents' understanding of policy reasoning, could bring about less volatile inflation and interest rate dynamics, and afford …