inadequate policy tools and theory from the interwar period, set the stage for the Great Inflation of the 1970s. The lessons from … that experience have convinced monetary authorities to reemphasize the goal of low inflation, as it were, committing …

Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic … forward-looking pricing behavior without inflation stickiness and attribute the slow decline in inflation to the consumption …-looking pricing behavior in Mexico and Turkey, two countries which have experienced ERBS. It finds that the forward- and backward …