higher inflation. This paper argues that there is a close medium- to long-term relationship between money growth and … inflation in Indonesia, and that this has not been greatly disturbed by the crisis. It argues that Indonesia’s disappointing …

independent central bank should reduce inflation only in the presence of political checks and balances. This effect should be … observable implications of their model: Central banks are associated with better inflation outcomes in the presence of checks and …

role of asset prices), he examines recent experiences with inflation targets, providing new evidence on the convexity of …In the past few years, a number of central banks have adopted inflation targeting for monetary policy. The author … provides an introduction to inflation targeting, with an emphasis on analytical issues, and the recent experience of middle …

as opposed to chronic inflation processes. Part II turns to chronic inflation countries and analyzes three basic types of …

that it also serves as a ‘conveyor belt’ transmitting costs into production structures and driving inflation quicker than … contradicts the inflation objectives of fiscal stabilisation because by devaluing a currency at every instance of inflation, it … rate of monetary growth, thus resulting in further cyclic inflation. The author also argues that the other effect of …

evaluate the impact of monetary policy on New Zealand business cycles and inflation variability and the output/ inflation … policy has generally been counter-cyclical, thereby reducing business cycles and inflation variability. Exceptions are in … inflation targeting monetary policy tended to simultaneously reduce inflation and output variability. From 1996 to 2001 monetary …

The perceptions of a central bank’s inflation aversion may reflect institutional structure or, more dynamically, the … for persistent variation in market perceptions of central bank inflation aversion. The first years of the European Central … the ECB during its first six years of operation significantly evolved, with a belief in its inflation aversion increasing …

on domestic inflation, such as import and oil prices. Moreover, the role of such global factors has been growing over …There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much … more stable around the globe. And its sensitivity to measures of economic slack and increases in input costs appears to …