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来源类型Discussion paper
规范类型论文
来源IDDP13608
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
URLhttps://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.
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