The motive of a typical discretionary central banker to accommodate excess inflation
(inflation bias) is either to stabilize real growth or to spur it beyond natural rate. To what …

This paper presents the ordered weighted average weighted average inflation (OWAWAI)
and some extensions using induced and heavy aggregation operators and presents the …

Internationally, use of interest rate as a policy tool has a long tradition. However, its impact
on economic growth is inconclusive. There are two main strands of literature; first Keynesian …

Over the last three decades, the landmark transformation of central banks from secrecy to
openness and transparency has significantly enhanced their performance to successfully …

We empirically examine the relevance and relative robustness of stabilization and non-
stabilization sources of inflation bias for the typical discretionary monetary policy strategy of …

Purpose In this paper, the authors develop and estimate a small open economy dynamic
stochastic general equilibrium (DSGE) model with an enriched micro-founded specification …

Purpose The conventional and new inflation bias theories present two distinct facets to
explain the outcome of excess inflation without output gains by a discretionary central …

Monetary policy is central to the attainment of low and stable inflation, and long-term growth.
Ghana's inflation has been relatively high and volatile since 1980 with modest economic …

This paper makes twofold contributions. First, it critically reviews empirical literature along
the key dimensions of inflation targeting (IT)—skepticism/critique to ascertain whether such …

We have empirically examined the role of monetary aggregate (s) vis-à-vis short-term
interest rate as monetary policy instruments, and the impact of State Bank of Pakistan's …