The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

The inflation rate is normally computed as a weighted average of individual price changes. Alternatively, this rate …

It has been argued that economies with more independent central banks experience lower inflation over time. In this … the inflation rate dynamics. Second, we implement a panel data analysis. We find evidence that legislative reforms that … modify the degree of independence of a central bank have a strong impact on the inflation rate dynamics. Moreover, underlying …

This note identifies supply factors, particularly the exchange rate, as key drivers of inflation in South Africa …. Demand factors play a negligible role, with a flat Phillips curve apparent since the inception of the country's inflation … targeting regime. The Phillips curve flattened further with the Global Financial Crisis, which suggests that inflation is now …

We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of … natural disasters. We find that inflation targeting improves macroeconomic performance following such exogenous shocks. It … lowers inflation, raises output growth, and reduces inflation and growth variability compared to alternative monetary regimes …

This paper deals with a "new" type of monetary policy making: Inflation Targeting (IT). It attempts to identify reasons … inflation targeting countries, the paper outlines the major operational arguments regarding the implementation of IT. Another …, Inflation Targeting might be an interesting policy framework to at least some countries in Central and Eastern Europe. …

The Great Inflation of the 1970s was an international phenomenon. We study whether monetary authorities in the G7 … countries were changing their responses to inflation in a similar manner during and following the Great Inflation era. Our … results suggest that the common to the G7 countries inflation pattern during the Great Inflation period is associated with a …

We study whether monetary authorities in the G7 countries were changing their responses to inflation in a similar … manner during and following the Great Inflation era. We find that the common to the G7 countries' inflation pattern during … the Great Inflation period could be associated with a common pattern in the monetary policy response to inflation: we find …

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control – and with it their own …