This paper investigates the relationship between the level of inflation and regional price-level convergence utilizing … micro-level price data from Turkey during two clearly distinguishable periods of high and low inflation. The results … indicate that higher persistence and slower convergence of price levels are evident during the low-inflation period, which …

Inflation in Southeastern European (SEE) countries has been comparable with euro area inflation, partly owing to on the … inflation-targeting regime pursued in Albania. The analysis also explores additional heterogeneity between SEE and other regions …

The global financial crisis has exposed the limitations of a conventional inflation targeting (IT) framework in … inflation. Accordingly, we investigate possible refinements to the IT framework by incorporating financial stability …

The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric … that: (1) in terms of guiding inflation expectations and policymaking, the current definition has functioned much as would … an inflation target centered on 1 1/2-1 3/4 percent; (2) the absence of a specific (point) target for medium …