Inflation has been off-ta ... …

Inflation has been off-target for some time in many economies, both advanced and emerging (Graph 1). Whereas advanced … economies (AEs) have mostly seen inflation below target, the experience among emerging market economies (EMEs) has been mixed …. Inflation has been below target in several EMEs in Asia and central and eastern Europe, but above target in some Latin American …

There is no consensus over the importance of “global forces” on inflation. This study explores the role of structural … breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which ‘global … forces' are relevant. Three conclusions stand out. Global inflation impacts inflation in both AE and EME, but the impact is …

Indonesia has been experiencing relatively low and stable inflation for the last five years. Currently, inflation has … switched to a low inflation regime, thanks mainly to better anchored inflation expectations owing to the more credible … inflation targeting framework (ITF) adopted in July 2005. Nevertheless, building and maintaining credibility remain the key …

Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during … the period under review. Food inflation, energy inflation, firms’ marginal cost, and imported inflation account for most … exchange rate solely explains price changes in the composite consumers’ basket when inflation switches to high regime …

/tightness and inflation expectations, contributing to the debate on the relevance of the Phillips curve in South Africa, where … previous findings have been inconclusive. Our analysis reveals that long-run inflation expectations are the primary driver of … inflation, with these expectations anchored around 5% historically but declining since the financial crisis. This trend suggests …

long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

There is no consensus over the importance of "global forces" on inflation. This study explores the role of structural … breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which "global … forces" are relevant. Three conclusions stand out. Global inflation impacts inflation in both AE and EME, but the impact is …

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much … more effective. There is no doubt in our mind that this explanation goes a long way towards explaining the better inflation …. We argue that prevailing models of inflation are too country-centric, in the sense that they fail to take sufficient …