This paper examines the methods used by the Bank of Japan for the estimation of the output gap. Attention is paid to … and disadvantages of the various output gap measures. First, I examine the usefulness of the output gap for inflation …

Modern monetary policy analysis is built around the concept of an interest rate rule that responds to both inflation … suggest that targeting the true output gap can be well approximated by a rule that only reacts to inflation. …

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 …

contracts, and inflation policy targets. The last section addresses current developments. These include the proper choice of …

This paper empirically analyzes whether and to what extent the adoption of inflation targeting (IT) in Korea, Indonesia …

This paper focuses on modeling and forecasting inflation in India using an augmented Phillips curve framework. Both … demand and supply factors are seen as drivers of inflation. Demand conditions are found to have a stronger impact on non …-food manufactured products (NFMP) inflation vis-a-vis headline wholesale price inflation; moreover, NFMP inflation is found to be more …

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 …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is … de l'inflation dans la zone euro<BR>Au cours des dernières années, l’inflation ne s’est pas ralentie de manière sensible …

potential GDP. Empirical results show that output gaps remain a significant influence on inflation, but their influence is now … weaker than in the past, and the usefulness of output gap estimates for real-time inflation projections is limited. Revisions … courant plutôt que du potentiel. Les résultats empiriques montrent que les écarts de production continuent d’influer sur l’inflation …