Inflation Targeting in Emerging Economies

Monetary Models and Inflation Targeting in Emerging Market Economies

The Impact of Inflation Targeting on Unemployment in Developing and Emerging Economies

Several countries around the world have adopted the inflation targeting regime for monetary policy. Despite the growing literature on the issue, it is not clear whether developing and emerging countries can improve their economic performance by adopting inflation targeting. This working paper examines the extent to which macroeconomic policies anchored to inflation targeting affect unemployment...

Inflation Targeting, Learning and Q Volatility in Small Open Economies

This paper examines the welfare implications of managing asset-price with consumer-price inflation targeting by monetary authorities who have to learn the laws of motion for both inflation rates. The central bank can reduce the volatility of consumption as well as improve welfare more effectively if it adopts state-contingent Taylor rules aimed at inflation and Qgrowth targets in this learning ...

Nber Working Paper Series Inflation Targeting in Emerging Market Countries

This paper outlines what inflation targeting involves for emerging market/transition countries and discusses the advantages and disadvantages of this monetary policy strategy. The discussion suggests that although inflation targeting is not a panacea and may not be appropriate for many emerging market countries, it can be a highly useful monetary policy strategy in a number of them. Frederic S....

Non-Linear Dynamics of Inflation in High Inflation Economies

Attempts by governments to finance a substantial proportion of expenditure by seigniorage can lead to multiple inflationary equilibria. Theoretical models suggest that, in these circumstances, inflation follows a non-linear process with up to three steady states and that the stability characteristics of these depend on the process by which expectations are formed. In this paper we show that the...