Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper...

Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper...

Over the last decade central banks have tended to accord increased importance to controlling inflation and fostering policy credibility. The concept and measurement of core inflation has an important role to play both in the formulation of policy aimed at controlling inflation and in providing...

This paper examines the transitional macroeconomic costs of a synchronized global increase in bank capital adequacy requirements under Basel III, as well as a capital increase covering globally systemically important banks. The analysis, using an estimated multi-country model, contributed to the...

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models...

This article discusses further research on alternative measures of underlying inflation and the Bank's decision to begin publishing a weighted median measure of inflation excluding credit charges.

A description of the main features of Consumer Price Index (CPI) inflation in the June 1995 quarter