We develop a semi-structural new-Keynesian open-economy model, with separate food and non-food inflation dynamics, for … forecasting and monetary policy analysis in low-income countries and apply it to Kenya. We use the model to run several policy …-relevant exercises. First, we filter international and Kenyan data (on output, inflation and its components, exchange rates and interest …

business cycle variance and about 25 percent of the variance of inflation. …

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation … while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore … whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks …

This paper explores inflation determinants within the EU and implications for new members' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …

analysis and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning …

This paper analyses inflation dynamics in the Central African Economic and Monetary Community (CEMAC) using a …. Imported commodity price shocks are significant in explaining inflation in the region. Governments are another driving force of … inflation dynamics mainly through controlled prices and the role of capital expenditure in domestic activity. In most CEMAC …

maintaining price stability have experienced the lowest and most stable inflation rates in recent decades. The present paper … reviews and critically evaluates this political economy literature which relates inflation performances to the constitutional …