and inflation in broad cross-country panels. This paper provides new econometric estimates for a panel of 23 emerging …-run relationship between the two variables controlling for differences in the inflation tax base. We find that a 1 percentage point … reduction in the ratio of fiscal deficit to GDP typically lowers long-run inflation by 1½ to 6 percentage points, depending on …

This note focuses on Russia's monetary policy, which is moving toward low and stable inflation. This paper discusses … two analytical measures to analyze the monetary policy—core inflation measure and a group of leading indicators model … (LIM). The trimmed mean core inflation is a good indicator for analyzing trend inflation and can be used as a viable target …

This paper provides an overview of inflation targeting frameworks and macroeconomic performance under inflation … targeting. Inflation targeting frameworks are generally quite similar across countries, and a broad consensus has developed in … favor of "flexible" inflation targeting. The evidence shows that, although inflation target ranges are missed frequently in …

This paper examines the determinants of inflation in Sierra Leone using a structural vector autoregression (VAR …) approach to help forecast inflation for operational purposes. Despite data limitations, the paper accurately models inflation … in Sierra Leone. As economic theory predicts, domestic inflation is found to increase with higher oil prices, higher …

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

This paper revisits the link between the nominal exchange rate regime and inflation, based on a sample of 145 emerging … low inflation benefits associated with pegging the exchange rate. To test our hypothesis, we exploit a novel dataset of … significantly lower inflation in EMDCs than flexible exchange rates, and that this effect is much stronger for de facto pegs that …

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 …

A model in which monetary policy pursues full-fledged inflation targeting adapts well to Ghana. Model features include …: endogenous policy credibility; non-linearities in the inflation process; and a policy loss function that aims to minimize the … variability of output and the interest rate, as well as deviations of inflation from the long-term low-inflation target. The …

This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …