Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries—A Cross Regional Perspective

Inci Ötker-Robe (), David Vavra, Francisco Vazquez, Luis Jácome, Karl Habermeier, Kotaro Ishi, Alessandro Giustiniani and Turgut Kisinbay

No 2009/001, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of monetary and exchange rate policy regimes; discusses the underlying causes of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and trade-offs, the uncertainties regarding the nature of the shocks, and the additional challenges brought on by the global financial turmoil; and presents considerations for policy.

Keywords: WP; inflation expectation; IT country; inflation targeting framework; aggregate demand; emerging market (search for similar items in EconPapers)
Pages: 78
Date: 2009-01-01
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Citations: View citations in EconPapers (28)

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