resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more …. Améliorer la crédibilité de l’objectif d’inflation donnerait aux autorités monétaires plus de latitude pour réagir aux chocs …

the risks associated with high inflation and volatile capital flows. A steadfast commitment to fiscal consolidation is …'expansion actuelle, des politiques macroeconomiques prudentes sont essentielles, etant donne les risques lies a une inflation elevee et a …

Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government’s … strategy – fiscal consolidation, growth-boosting structural reforms and higher inflation – could make to reversing the rise in … productivity growth, as well as inflation gradually rising to 2% thanks to unconventional monetary policy measures, the debt ratio …

interest rates and low inflation, and when ensuing prolonged and subdued growth undermines potential growth via labour … of economic slack and its impact on inflation, crisis-related hit to potential output and neutral interest rates. However … et d’une inflation faible, conjugués à une croissance durablement atone qui affaiblit la croissance potentielle via des …

States, the large unemployment gap could also keep wage inflation under pressure despite a flattening Phillips curve. These … productivity gaps, except in the United States where it essentially resulted from a large increase in the unemployment gap. As … more weight on alternative indicators of inflation pressure such as wage settlements, trends in unit labour costs and a …

This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery … the slowdown and later the weak pace of the recovery – errors made by many other forecasters. At the same time, inflation …<BR>Ce document évalue les projections de l'OCDE relatives à la croissance du PIB et à l'inflation durant la crise financière mondiale …

deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen …; source of revenues have disappeared; social needs have increased; and the unemployment insurance fund has been nearly … déprécié ; les mouvements de capitaux se sont interrompus ; l’inflation est forte ; la dette publique a augmenté ; des sources …

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 …

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel’s Law may hold during …

The inflation measure used by the European Central Bank excludes housing costs that are borne by home owners even … repayments. The user cost measure is combined with the HICP to derive a “broad” inflation estimate. For the sake of comparison … costs have an impact. Another important conclusion is that the effect of owner-occupied housing costs on inflation varies …