Phillips curves and natural rates of unemployment provide a poor foundation for analyzing inflation in developing … distributional claims, but shocks to relative incomes can produce explosive inflation. …

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 …

presented herein provide the first empirical evidence that macroprudential transparency can aid to achieve stable inflation in … record a particular advantage of macroprudential transparency for non-inflation targeting countries. Overall, the results are …