This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time …-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using …

challenges in its conduct of disinflation policy. Ghana has historically experienced volatile and often high inflation rates. The … announcements of inflation reduction and policymaker aversion both to movements of output from its potential level and to …

Norway adopted an inflation targeting framework in early 2001, thus concluding its gradual but consistent move toward … countries that had adopted inflation targeting frameworks prior to Norway. Norway's role as a commodity exporter exposed to …

to explain most features of the "Great Inflation." …

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well …, underpinned by weak labor markets, slowing wage growth, and, in many cases, falling oil prices. Indeed, inflation declined by … about the same fraction of the initial inflation rate across episodes. That said, disinflation has tended to taper off at …

with inflation and inflation targeting. It examines several institutional aspects of inflation targeting and compares … Israel with other emerging market regimes. Various procedural issues associated with implementing an inflation …

resulted in economic stagnation, high inflation, and widespread unemployment. The political turmoil in early 2004 and the …

some of the area's institutional features, which may impart considerable persistence to area-wide inflation, caution … against shifting to conventional inflation targeting. But the time series evidence also seems to point to a relatively loose … connection between variations in nominal money growth and inflation in the short to medium run. As a consequence, effective …

inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalization in their economies … changes in institutions, suggest that incentives may be diminishing, but not to the point where inflation levels below 5 … inflation, and enhancements to central bank independence could help shield these central banks from pressures. …

. When the credibility of policymakers’ commitment to low inflation is firm, some degree of dirty floating, with little or no …