This note identifies supply factors, particularly the exchange rate, as key drivers of inflation in South Africa …. Demand factors play a negligible role, with a flat Phillips curve apparent since the inception of the country's inflation … targeting regime. The Phillips curve flattened further with the Global Financial Crisis, which suggests that inflation is now …

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 …

Empirical evidence following conventional tests suggests that inflation expectations in Colombia might not be rational …, although the period of disinflation included in the sample makes it difficult to verify this conclusion. Inflation expectations … display close ties with observed past and present headline inflation and are affected by exogenous shocks in a possibly non …

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 …

Inflation has been off-ta ... …

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U … favored by the Shadow would have lowered inflation with less impact on output growth, and with less variability in output and … inflation, than a one-time reduction in monetary growth. We conclude that the Shadow articulated a sensible policy that would …

natural distinction between CPI and PPI inflation rates, a benevolent central bank faces a tradeoff between stabilizing the … two measures of inflation: a final output gap, and unique to our model, a real marginal cost gap in the intermediate … to CPI inflation and PPI inflation results in a welfare level close to the optimum, whereas policy rules that ignore PPI …

. Der Harmonisierte Verbraucherpreisindex (HVPI) von Eurostat, auf den die EZB ihre Geldpolitik ausrichtet, berücksichtigt … officially measured inflation rates and highlights the weaknesses of the ECB’s envisioned approach. …

rule that stabilizes output and inflation in an environment where endogenous boom-bust cycles in house prices can occur … borrowers are occasionally over-optimistic, the central bank should be less responsive to inflation, more responsive to output …-bust cycles in house prices, but prolongs inflation target horizons due to weak policy reactions to inflation fluctuations after …