The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis … countercyclical manner, with a short-term positive impact on inflation. This implies that the countercyclical pattern of the markups … is one factor among others that contribute to the relatively weak output gap-inflation co-movement. In the context of …

This paper applies a state-space approach to estimate the implicit inflation target of the South African Reserve Bank … (SARB) since the adoption of the Inflation Targeting (IT) framework. The paper's findings are two. First, although the … official inflation target range is 3.6 percent, in practice, the SARB seems to have aimed for the upper segment of the band (41 …

This paper tackles the monetary policy performance in Brazil, Chile and South Africa under inflation targeting … changes due to the adoption of inflation targeting regime in those countries. The main findings are as follows: inflation …

is tailored to assessing the impact of domestic as well as external shocks on inflation within an inflation targeting … integrate the short-term inflation outlook into a consistent medium-term framework and to design the policy response for various … shocks that affect inflation …

of monetary policy regimes: a currency board regime (in the CFA zone countries) and an inflation targeting policy regime … shocks hitting the economies: a recessionary demand shock, a supply shock increasing inflation and a negative fiscal shock … negative effects of the shocks), while inflation targeting dominates the currency board regime as a strategy to cope with …