This article aims to examine the monetary policy rule under an inflation targeting in Mongolia with a focus on its … inflation-responsive rule fulfilling the Taylor principle in the recent phase of the Mongolian inflation targeting. Second, the …. Third, the Mongolian rule was estimated to have a weaker response to inflation than the rules of the other emerging Asian …

Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada …, Switzerland), we find that monetary policy has become more averse to inflation and more responsive to the output gap in both sets … of countries over time. In particular, there has been a clear shift in inflation targeting countries towards a more …

model indexation regulates the sources of inflation persistence. When indexation is zero, the inflation gap is purely … forward- looking and inflation persistence depends only on the level of trend inflation, while full indexation makes the … inflation gap persistent and it eliminates the effects of trend inflation. We show that in the former case the optimal policy is …