This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that … has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation … targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little …

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed … inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast …

This is the tenth chapter of a forthcoming monograph entitled, "On Implementing Full- Fledged Inflation … introduction and implementation of inflation targeting regimes. It discusses their motivation for introducing IT; how they fared in …

inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …

This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well …, underpinned by weak labor markets, slowing wage growth, and, in many cases, falling oil prices. Indeed, inflation declined by … about the same fraction of the initial inflation rate across episodes. That said, disinflation has tended to taper off at …

This Selected Issues paper analyzes current developments and outlook for inflation in the Czech Republic. Inflation in … koruna in mid-1997 pushed year-over-year inflation to more than 13 percent. The paper presents the IMF staff analysis that … shows that without interest rate increases, inflation is likely to begin to rise above the midpoint of the Czech National …

This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation …