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 …

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …

This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that … has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation … targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little …

Money has only limited information value for future inflation in Ghana over a typical monetary policy implementation …) are shown to be important predictors of future price changes. Inflation inertia is high and inflation expectations are … largely based on backward-looking information, suggesting that inflation expectations are not well anchored and hence more is …

for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the … effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time. …

Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced … instruments to inflation. These prerequisites are largely absent among developing countries, though several of them could with … some further institutional changes and an overriding commitment to low inflation make use of an IT framework. …

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term. …