When monetary policy was still largely confined to the setting of interest rates and conventional open market operations, monetary policy implementation could be considered a technical issue beyond the scope for academic analysis. This has changed with the advent of the so-called unconventional...

This paper argues that inflation targeting should not be defined too narrowly. The principal objective of a sound monetary policy, namely to provide a credible nominal anchor for the economy, can be achieved with a variety of institutional structures and operational frameworks. It is essential,...

The present study empirically investigates the success of inflation targeting in reducing inflation uncertainty in East Asian countries, especially South Korea, the Philippines and Thailand. An attempt is made to examine whether inflation targeting has any impact on inflation variability in the...

Chapter 1. Measuring and Fighting for Price Stability in Turbulent Times: Lessons from East Asia -- Chapter 2. The Mirages of Hedonics: Quantitative Analysis of Technological Innoation Contained in Inflation Rates -- Chapter 3. Unravelling the Mystery of Low Inflation in Korea during the Period...