In this paper, we empirically examine the effect of inflation targeting on the exchange rate pass-through to prices in … inflation targeters and twelve inflation nontargeters). Our evidence suggests that inflation targeting in emerging countries … the contribution of exchange rate shocks to price fluctuations in emerging targeters declines after adopting inflation …

difference in the relative labor productivity in the open sector between Serbia and the EMU. The second part of the research … the EMU translates onto the difference in the relative prices of non-tradable goods or that the difference in prices … between the dynamic economic growth and the membership in the EMU …

explain the observed exchange rate and inflation variability as well as the fact that the regression and VAR estimates tend to …

cost-push effect on inflation, financial frictions make monetary policy less effective in combating inflation. We show that …: commitment outperforms the Taylor rule, the Taylor rule outperforms strict inflation targeting, and strict inflation targeting … der Geldpolitik in der Steuerung der Inflation. Wir zeigen, dass es optimal ist auf die verringerte Effizienz mit einer …

commitment to higher future inflation, as most New Keynesian models imply is necessary; the need for fiscal and monetary policy …

We investigate inflation predictability in the United States across the monetary regimes of the twentieth century. The … forecasts based on money growth and output growth were significantly more accurate than the forecasts based on past inflation … only during the regimes associated with neither a clear nominal anchor nor a credible commitment to fight inflation. These …