Fears of deflation in the euro area intensified in early 2014. Low or negative inflation in several euro-area countries has increased the risk of deflation. The European Central Bank's communication suggests that the Bank considers deflation a genuine risk. In Japan, economic policy has been...

This paper surveys the changes triggered by the financial crisis and the theoretical and practical options for the renewal of the inflation targeting framework. While a comprehensive overview would be impossible to provide, it seeks to present the changes in the monetary strategy of Magyar...

This paper surveys the changes triggered by the financial crisis and the theoretical and practical options for the renewal of the inflation targeting framework. While a comprehensive overview would be impossible to provide, it seeks to present the changes in the monetary strategy of Magyar...

This paper considers whether the adoption of inflation targets for Hungary, an emerging market economy, is a desirable option. We consider the qualitative and quantitative pre-conditions required for the successful adoption of inflation control objectives. Although it is found that the National...

Inflation and fiscal performance are interlinked and called for proper legislative and institutional requirements to implement policies. We argue that more attention should be paid to nominal indicators like inflation and nominal interest rate in designing fiscal rules and we attempt to...