Inflation mechanisms, expectations and monetary policy

Bank for International Settlements

No 89 in BIS Papers from Bank for International Settlements

Abstract: Inflation has been off-target for some time in many economies, both advanced and emerging. Whereas advanced economies have mostly been experiencing inflation below target, the experience among emerging market economies has been more mixed. Inflation has been below target in several EMEs in Asia and Central and Eastern Europe, but above target in some Latin American economies as well as in Russia, South Africa and Turkey. This volume explores the reasons behind this diverse inflation performance in EMEs and analyses possible changes to the inflation mechanism.

Date: 2016 Written 2016-11
ISBN: ISBN 978-92-9259-005-5
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Chapters in this book:

Inflation mechanisms, expectations and monetary policy - Overview , pp 1-8

Christian Upper

Measuring inflation , pp 9-21

Nikhil Patel and Agustín Villar

The inflation process , pp 23-40

Yavuz Arslan, Martina Jasova and Elod Takats

Inflation expectations and monetary policy , pp 41-67

Ricardo Sousa and James Yetman

The transition to inflation targeting in an emerging economy: selected issues , pp 69-83

Horacio Aguirre, Mauro Alessandro and Lucas Llach

Why is inflation so high and volatile in Brazil? A primer , pp 85-91

Tony Volpon

The evolution of inflation in Chile since 2000 , pp 93-116

Alberto Naudon and Joaquín Vial

An underlying inflation gauge (UIG) for China , pp 117-121

The People's Bank of China

Inflation expectations and a model-based core inflation measure in Colombia , pp 123-151

Hernando Vargas-Herrera

Impact of the CNB's exchange rate commitment: pass-through to inflation , pp 153-167

Michal Skořepa, Vladimír Tomšík and Jan Vlcek

Inflation mechanism and monetary policy: perspectives from Hong Kong , pp 169-177

Lillian Cheung, Kevin Chow, Michael Cheng and Philip Ng

Fixing an impaired monetary transmission mechanism: the Hungarian experience , pp 179-191

Péter Gábriel, György Molnár and Judit Várhegyi

Inflation mechanisms, expectations and monetary policy in Indonesia , pp 193-203

Hendar

Inflation measurement and inflation expectations: the case of Israel , pp 205-220

Nadine Baudot-Trajtenberg and Edward (Akiva) Offenbacher

Inflation dynamics in the post-crisis period: Korea's experience , pp 221-230

Min Chang, Changho Choi and Keunhyeong Park

Economic changes, inflation dynamics and policy responses: the Malaysian experience , pp 231-245

Sukudhew (Sukhdave) Singh

On the costs of deflation: a consumption-based approach , pp 247-273

Santiago Garcia-Verdu and Manuel Ramos-Francia

Inflation expectations and dollarisation in Peru , pp 275-289

Renzo Rossini, Marco Vega, Zenon Quispe and Fernando Pérez Forero

The role of expectations in inflation dynamics in the Philippines - has it changed following the global financial crisis? , pp 291-302

Diwa C Guinigundo

Negative bond term premia - a new challenge for Polish conventional monetary policy , pp 303-315

Juliusz Jabłecki, Andrzej Raczko and Grzegorz Wesołowski

The Bank of Russia's inflation challenge , pp 317-326

Central Bank of the Russian Federation

Inflation mechanisms, expectations and monetary policy in Saudi Arabia , pp 327-333

Saudi Arabian Monetary Agency

The inflation process and expectations in Singapore , pp 335-343

Keen Meng Choy

Inflation mechanisms, expectations and monetary policy , pp 345-348

South African Reserve Bank

Inflation dynamics and inflation expectations in Thailand , pp 349-360

Wanicha Direkudomsak

Twin stability problem: joint issue of high current account deficit and high inflation , pp 361-371

Mustafa Kilinc, Cengiz Tunc and Mehmet Yorukoglu

Inflation in the United Arab Emirates , pp 373-378

Central Bank of the United Arab Emirates

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