This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for … inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the … at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return …

This paper examines the question of whether inflation targeting monetary policy is an appropriate framework for sub …-Saharan African countries. The paper presents an overview of inflation targeting, reviews the justification for the regime, and … summarizes some major critiques. Monetary policy responses to inflation depend on the source of inflationary pressures. Therefore …

At our first meeting, ten years ago, we offered a medium-term strategy for ending inflation and restoring productive … growth to its long-term average. The rate of inflation for the previous three years was, then, about 5 1/2%. The average rate … disciplined, medium-term strategy to end inflation, inflation would rise and economic instability and unemployment would increase …

the past ten years to generate a pattern of world wide inflation. The experiences made since our first meeting in … peace inflation observed in the U.S.A., followed by a substantial downswing in economic activity in 1974/75. …

inflation. The Committee's concern was motivated by the repeated failures of our policymaking in 1967,1970 and again in 1972 … unleashed a new wave of inflation. From an inflation level below 4% p.a. in the spring of 1972 price movements accelerated to a … repeated for the fourth time in 1976/77. Inflation had been lowered to 4.5% p.a. in the second half of 1976 as a result of the …

future welfare (real income per capita) but offered otherwise no relevant specific action designed to lower inflation or to … concerning the nature of the inflation problem. The program submitted to the public's attention offered in particular no useful … major component in a program addressed to lower the rate of inflation. …

Adopting a restrictive policy to reduce inflation and being willing to stick with it even in a long and deep recession … is not evidence that it will be successful. The test of whether a long-run anti-inflation policy will be maintained does …

exchange rate movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across … counteract deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the … forecasting inflation. …