South Africa's inflation and business cycles. The study uses a small open economy New Keynesian Dynamic Stochastic General …. Regime F (active fiscal policy), in contrast, stabilizes debt more quickly but at the cost of higher inflation, as it does …

inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after … an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …

nominal interest rates, even when agents believe that the central bank will eventually attain its long-run, positive inflation … target. This illustrates that a credible long-run inflation target does not render the Taylor principle sufficient for …

the leading shock candidates can explain fluctuations in output and hours. It concludes that we are much closer to …

four external shocks (oil price shock, USD/EUR exchange rate shock, international inflation shock and international … interest rate shock) and to examine the appropriate monetary policy strategy for Algerian economy, given its structural … that, over the period 1990Q1-2010Q4, core inflation monetary rule allows better to stabilize both output and inflation …

analytically the impulse response of aggregate prices and output to a monetary shock. The cumulative response of output to a … monetary shock is the product of three terms: the steady state standard deviation of price changes, the average time elapsed … between price changes, and a function of both the number of products and the size of the monetary shock. The size of the …

evidence suggest that this effect is smaller during the inflation targeting period. …