This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …

of Inflation Targeting. We start applying methodologies developed by Calvo and Reinhart (2002) and Ball and Reyes (2004 …, 2008) to check the probabilities of changes in exchange rate and monetary policy instruments before and after inflation … exchange rate shocks before and after inflation targeting regime. VAR model helps to understand the impacts of switch in …

This paper develops a model of inflation in an open economy. The model permits analysis of the susceptibility of open … paper arrives at a “structuralist inflation targeting agenda”. Based on a proper conception of inflation dynamics, this … involves “getting inflation targeting right” rather than either accepting mainstream inflation targeting prescriptions or …

We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

We analyze the impact of price stability-oriented monetary strategies (inflation targeting - IT - and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993-2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …

(fixed, intermediate, and flexible without inflation targeting) and inflation targeting on inflation rates in emerging and … developing countries. An inflation-targeting regime does better than or at least as good work as a fixed regime in lowering … inflation rates when compared with intermediate or flexible regimes. We do not observe a clear difference in inflation rates …

This study proposes relative inflation forecast targeting as an operational framework of monetary policy for adopting … inflation forecasts as an operational target. A model prescribing the RIFT framework is presented along with a set of … strict inflation targeting that is currently pursued by some NMS. Several ARCHclass tests in various functional forms are …

regimes, namely, currency boards (and quasi-fixed exchange rate) - Bulgaria, Estonia, Latvia, Lithuania, or inflation … and pronounced. For the inflation targeting countries the link became weaker and less pronounced …

Emerging economies with inflation targets (IT) face a dilemma between fulflling the theoretical conditions of "strict …