out using both cross section data and then monthly data for Korea to estimate an augmented demand for money equation. It …

The paper constructs a new output gap measure for Vietnam by applying Bayesian methods to a two-equation AS-AD model …

with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and … persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns …

these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances …, robust measures of central tendency are likely to outperform the mean or standard measures of “core” inflation as indicators … of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting …

-rate policy fits a conventional forward-looking reaction function with an inflation target of about 1 percent. The disappointing … inflation target would not have yielded a lasting improvement in performance. However, a price-targeting rule or a policy rule … that combined a higher inflation target with a more aggressive response to output would have achieved superior …

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 …

direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as …