| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13608 |
| DP13608 Understanding Inflation in Emerging and Developing Economies | |
| Jongrim Ha; M. Ayhan Kose; Franziska Ohnsorge | |
| 发表日期 | 2019-03-21 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a checkered history of managing inflation among many EMDEs, disinflation occurred across all regions. This paper presents a summary of our recent book, “Inflation in Emerging and Developing Economies: Evolution, Drivers, and Policies,” that analyzes this remarkable achievement. Our findings suggest that many EMDEs enjoy the benefits of stability-oriented and resilient monetary policy frameworks, including central bank transparency and independence. Such policy frameworks need to be complemented by strong macroeconomic and institutional arrangements. Inflation expectations are more weakly anchored in EMDEs than in advanced economies. In EMDEs that do not operate inflation targeting frameworks, exchange rate movements tend to have larger and more persistent effects on inflation. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Prices inflation Monetary systems monetary policy Globalization |
| URL | https://cepr.org/publications/dp13608 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542467 |
| 推荐引用方式 GB/T 7714 | Jongrim Ha,M. Ayhan Kose,Franziska Ohnsorge. DP13608 Understanding Inflation in Emerging and Developing Economies. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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