to their increase, an unanticipated hike in policy rate has no impact on them. The impact on inflation is also symmetric … neutral to components of aggregate demand and, thus, on inflation, ranging from 6.25 per cent to 7.0 per cent. …

higher inflation is an important factor for the rise in pass-through. …

data from 1996-97Q1 to 2011-12Q4. It finds that both the shocks impact real output growth and inflation in the short …. An unanticipated hike/reduction in policy rate leads to a symmetric decline/rise in inflation. An unanticipated change in … money supply leads to higher inflation, but a similar decrease in it has no significant impact on inflation. …

level, as has been experienced by India in the past, there could be medium-term implications for the future inflation path …, which must be recognised while designing the timing and speed of fiscal exit. Inflation, at times, may become effectively a … this paper, fiscal deficit could be seen to influence the inflation process either through growth of base money created by …

authorities adopt an flexible inflation-targeting regime in an environment with a liberalised capital account and flexible … exchange rates. In this respect, inflation targeting is an essential part of a three-part policy (or trinity) that also … includes flexible exchange rate and capital mobility. We show that a low degree of inflation targeting flexibility (i …

Résumé: Une zone-cible du taux d’inflation comporte une borne supérieure et une borne inférieure clairement annoncées … les marchés financiers lorsque le taux d’inflation anticipé atteint la borne supérieure ou inférieure. Nous proposons dans … ce papier un cadre théorique qui permet de démontrer que la zone-cible du taux d’inflation a des vertus stabilisantes …

Using a New Keynesian small open economy model, we examine the effects of central bank transparency on inflation …