variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …

estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … in determining current inflation. Finally, the underlying fiscal stance over the period 2000-09 is assessed by estimating …

This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their … excessive money creation. It is shown that even without policy precommitment or aversion to inflation, the availability of … alternative currencies can support an equilibrium with a finite, time consistent inflation rate …

Chinese inflation, particularly non-food inflation, has been surprisingly modest in recent years. We find that supply …-food inflation, as has foreign demand for Chinese goods. Domestic demand and monetary conditions seem less important, possibly … reflecting a large domestic output gap generated by many years of high investment. Inflation varies systemically within China …

This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …

exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a …

, and current account liberalization; and (ii) inflation and various determinants, including lagged inflation, the nominal … and the real exchange rate are significant determinants but not the exchange regime or liberalization; and for inflation …, the lagged inflation rate, nominal exchange rate, and the de facto regime are significant. Exchange rate pass-through is …

moderate and inflation high. Executive Directors have advised that the focus should be on reducing fiscal vulnerabilities …, lowering inflation, promoting a stronger and more competitive banking system, and creating a favorable environment for …

frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengthening the monetary policy …