This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that … has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation … targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little …

for establishing the other building blocks of an inflation targeting framework. It argues that strengthening the … effectiveness of the current monetary policy framework will facilitate the adoption of inflation targeting over time. …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …

Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced … instruments to inflation. These prerequisites are largely absent among developing countries, though several of them could with … some further institutional changes and an overriding commitment to low inflation make use of an IT framework. …

Inflation targeting (IT) is a relatively new monetary policy framework for low-income countries (LICs). The limited … this gap. It finds that inflation targeting appears to be associated with lower inflation and inflation volatility. At the …, where building credibility of monetary policy is difficult and minimizing output costs of reducing inflation is imperative …

anti-inflation policy that has led to a sharp decline in inflation. To institute a monetary policy framework, a nominal … currency in circulation, conduct more sophisticated tests to assess the relationship between inflation and the monetary …