impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

policy has a strong and statistically significant impact on broad money, non-oil activity, and inflation in the GCC region …

This Selected Issues paper examines the acceleration of inflation over the past year in Chile, identifying domestic … compares it with alternative policy rules. The paper concludes that Chile’s framework based on an explicit inflation target, a …

The recent global financial crisis has exposed the limitations of a conventional inflation targeting framework in … and inflation. Possible refinements to the inflation targeting framework in Korea were investigated by taking into account … business cycle fluctuations by mitigating the buildup of factors that lead to large fluctuations in output and inflation. …

ahead. Uruguay’s near-term economic prospects are generally favorable. The main short-term challenge is rising inflation …