In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices. …

output gap, and inflation in Chile, Korea, Mexico, and Turkey, using a generalized vector autoregression analysis. Nominal … historical wage shocks are shown to have an important effect on movements in inflation only in Mexico. Generalized impulse … reduction in output. Inflation increases in all countries, particularly Mexico. A positive shock to nominal money growth raises …

Inflation can "grease" the wheels of the labor market by relaxing downward wage rigidity but it can also increase … uncertainty and have a negative "sand" effect. This paper studies the grease effect of inflation by looking at whether the … interaction between inflation and labor market regulations affects how employment responds to changes in output. The results show …

Inequality-Globalization nexus. It is shown that by modifying this model and relaxing some of its most restrictive assumptions … suitable modelling of the Inequality-Globalization nexus …

Recent energy and food price surges, in the wake of Russia's invasion of Ukraine, have exacerbated inflation … pressuresthat are unusually high by the standards of the past two decades. High and rising inflation has prompted many emerging …. Inflation is expected to ease back towards targets over the medium-term as recent shocks unwind, but the 1970s experience is a …