-integrated variables, the probability of reaching an erroneous conclusion regarding the cointegrating rank of the system is generally …

regimes. It also reviews the performance of exchange rate regimes in terms of inflation and business cycles. …

regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop …

This paper shows that the response of inflation to external shocks is very different when the authorities target the … would have no effect on the steady-state inflation rate under a fixed exchange rate are either inflationary or deflationary …

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 …

This paper pursues a computationally intensive approach to generate future inflation, followed by an exploration of the … determinants of inflation expectations by estimating a new Keynesian type Phillips curve that takes into account country … indicate that high and climbing inflation could easily seep into people’s anticipation of future inflation and linger. There …

This paper develops an approach for forecasting in Thailand core inflation. The key innovation is to anchor the … projections derived from the short-term time-series properties of core inflation to its longer-run evolution. This involves … goodness-of-fit criteria, with an equilibrium-correction model that pins down the convergence of core inflation to its longer …

-side flexibility are indeed the main channel through which monetary policy lowers the volatility of inflation and, even more …

We analyse optimal monetary and fiscal policy in a New-Keynesian model with public debt and inflation persistence … striking result is not true with high degrees of inflation persistence. Secondly, we show that optimal fiscal policy is more … active under discretion than commitment at all degrees of inflation persistence and all levels of debt. …