with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

This paper appraises how countries with inflation targeting fared during the current crisis, with the goal of …

, Uganda (both de jure money targeters), and Ghana (a de jure inflation targeter), and compare the de facto adherence to … money targets is optimal. In the spirit of Poole (1970), this role is based on the incompleteness of information available … to the central bank, a pervasive issues in these countries. Ex-ante announcements/forecasts for money growth are …

specifically at the impact on inflation expectations and real asset prices. It suggests a number of possible channels through which …-term bond purchases to real yields and other asset prices. It argues that quantitative easing has had smaller effects on nominal … once the zero bound on short-term rates ceases to be binding. It argues that setting clear goals for inflation and a return …

monetary policy on output and prices for Mauritius, using data for 1999-2009. The results show that (i) an unexpected monetary … policy tightening-an increase in the Bank of Mauritius policy interest rate-leads to a decline in prices and output but the … effect on output is weaker; (ii) an unexpected decrease in the money supply or an unexpected increase in the nominal …