Extending recent theoretical contributions on sources of inflation inertia, we argue that monetary uncertainty accounts …

, the effects on inflation and output volatility in the event of demand and cost-push shocks are minimal. Financially … emerging economies in handling risk premium shocks. As long as the weight placed on exchange rate smoothing is relatively small …

, Uganda (both de jure money targeters), and Ghana (a de jure inflation targeter), and compare the de facto adherence to …

addition, there is some evidence that the accuracy of inflation forecasts has increased. The improvements in interest rate and … inflation forecasts have exceeded those in real output forecasts, suggesting that increases in reserve bank transparency are …

This paper investigates the determinants of inflation in the Dominican Republic during 1991-2002, a period …-correction model using quarterly observations, the paper finds that inflation is explained by changes in monetary aggregates, real … output, foreign inflation, and the exchange rate. Long-run relationships in the money and traded-goods markets are found to …

to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the … channels are evaluated in a VAR model. The exchange rate channel plays a strong role in propagating monetary shocks to output … inflation targeting over the medium term. …