Inflation targeting has emerged in recent years as a leading and increasingly advocated framework for conducting monetary policy in order to achieve and maintain price stability. Like many other developing countries, Egypt is now aspiring to introduce inflation targeting as a framework for its...

Monetary and fiscal institutions have played a decisive role in the stabilisation of the Brazilian economy since the mid-1990s. Brazil's experience of designing and managing institutions to this end is likely to be of interest to other emerging and low- or middle income economies. In Brazil...

A standard model of activist macroeconomic policy derives a monetary reaction rule by assuming that governments have performance objectives, but are constrained by an augmented Phillips curve. In addition to monetary policy governments apply a variety of instruments to influence inflation and...