Recent cross-country studies on the globalization and output-inflation tradeoff correlation find openness has no … openness on the output-inflation trade off differ in sign and size across countries. In contrast to previous cross …-country studies, we find globalization has significantly changed some major industrialized countries’ output inflation tradeoff. This …

Korea has adopted much of the apparatus of inflation targeting, with a band for target inflation and a Monetary Policy … trade and investment as Korea, currency movements contain information useful for forecasting inflation and the output gap … information relevant for the inflation forecast. In addition, the central bank responds to movements in the exchange rate for …

number of developing countries now have domestic inflation targets administered by independent and transparent central banks … monetary policy in these countries does not have any obvious international cost. Inflation targeters have lower exchange rate … volatility and less frequent “sudden stops” of capital flows than similar countries that do not target inflation. Inflation …

much sharper rise in inflation than measured by the official price indices, whose quality was called into question. In this … determinants. Since these data do not rely on official inflation statistics, they provide an independent check for the latter. We … not recorded by official inflation statistics. We do not find evidence in support of this hypothesis. …

producers. I apply these results to a model of inflation. I find that the model can fit the quantitative facts on post …-war inflation remarkably well, that it is a good forecaster of future inflation, and that it survives the Lucas critique by fitting … also the pre-war facts on inflation moderately well. …