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Do exchange rates affect inflation? : evidence from emerging market economies
Demirel, Baki; Alpaslan, Barış; Bozdağ, Emre Güneşer - 2013
After 1980s, chronic inflation in Turkey has shaken the confidence in the domestic currency, and thus operating debit-credit transactions through dollars. The aim of this study is to analyse the impact of exchange rate pass-through into inflation in both Turkey and emerging market economies that...
Persistent link: https://www.econbiz.de/10009791587
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Finding new objectives, seeking new instruments
Cobham, David P. - 2024
This short paper use the perspective of the assignment problem to examine the evolution of the workings of monetary policy and the Monetary Policy Committee (MPC) of the Bank of England over its first 25 years. It outlines how the Bank, and the MPC, came across additional possible objectives and...
Persistent link: https://www.econbiz.de/10014471910
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On the credibility of inflation targeting regimes in Latin America
Mariscal, Rodrigo; Powell, Andrew; Tavella, Pilar - 2014
take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter … anchoring of expectations is interpreted as a gain in credibility. Also considered are the effects on the credibility of the …
Persistent link: https://www.econbiz.de/10011286255
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Is Sri Lanka Ready for Inflation Targeting?
Perera, Anil - 2010
Inflation targeting has become the most popular and widely discussed policy framework in the contemporary monetary policy practice. The success of inflation targeting has been proved by a number of advanced and emerging countries and hence, most of the monetary authorities around the globe have...
Persistent link: https://www.econbiz.de/10013145040
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Implementing inflation targeting in Brazil: an institutional analysis
Strachman, Eduardo - Volkswirtschaftliche Fakultät, … - 2009
The paper shows the advantages and handicaps of implementing an inflation target (IT) regime, from a Post-Keynesian and, thus, an institutional stance. It is Post-Keynesian as long as it does not perceive any benefit in the mainstream split between monetary and fiscal policies. And it is...
Persistent link: https://www.econbiz.de/10005014711
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The Role of Policy Rules in Inflation Targeting
Kuttner, Kenneth N. - 2004
This paper seeks to clarify the ways in which inflation targeting corresponds to a policy rule conceptually, and to assess the extent to which inflation targeters' policy can be described by policy rules in practice. Using central banks' inflation and output forecasts, the empirical analysis...
Persistent link: https://www.econbiz.de/10014073842
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Inflation Forecast Targeting : Implementing and Monitoring Inflation Targets
Svensson, Lars E. O. - 1998
**The following is a description of the paper and not the actual abstract.** Inflation targeting is shown to imply inflation forecast targeting: the central bank's inflation forecast becomes an explicit intermediate target. Inflation forecast targeting simplifies both implementation and...
Persistent link: https://www.econbiz.de/10014101962
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Did the Bundesbank Target Monetary Expansion or Inflation? Evidence from Monetary Base Growth
Vaubel, Roland - 2012
Several empirical studies have suggested that the Bundesbank has pursued inflation targets rather than monetary targets. These studies have been criticized because they do not adequately measure the deviation from target and because they use some short term interest rate as a measure of the...
Persistent link: https://www.econbiz.de/10013111019
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On the Credibility of Inflation Targeting Regimes in Latin America
Mariscal, Rodrigo; Powell, Andrew; Tavella, Pilar - 2014
take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts … to measure whether, for a set of inflation targeters in Latin America, expectations are well anchored. A tighter … anchoring of expectations is interpreted as a gain in credibility. Also considered are the effects on the credibility of the …
Persistent link: https://www.econbiz.de/10011314152
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The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21
This paper replicates the main analysis of Svensson (2015) with some expansion to the original analysis, mainly for the United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and the United States, empirical evidence sup- ports...
Persistent link: https://www.econbiz.de/10013179358