We analyze the impact of price stability-oriented monetary strategies (inflation targeting - IT - and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993-2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

of Inflation Targeting. We start applying methodologies developed by Calvo and Reinhart (2002) and Ball and Reyes (2004 …, 2008) to check the probabilities of changes in exchange rate and monetary policy instruments before and after inflation … exchange rate shocks before and after inflation targeting regime. VAR model helps to understand the impacts of switch in …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

reduce inflation and limit the real appreciation of the rouble. Given the strength of Russia’s balance of payments during the … interventions which were only partially sterilised. As a result, inflation remained persistently high. During the global financial … greater exchange rate flexibility should be permitted since (i) commodity exporting countries can successfully run inflation …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy … whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel … regime that differs from a pure float entails higher or lower inflation. We use two de facto foreign exchange regime …

consistent with the official monetary policy. Second, we seek to shed light on the inflation process of these countries. To this … end, we carry out an estimation of an open economy Philips curve (PC). Our main finding is that inflation rates were not … monetary arrangements for price stability. The analysis of the conditional inflation variance obtained from GARCH estimation of …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a … standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility …. Estimated results suggest that higher exchange rate volatility tends to increase core inflation but to a relatively limited …