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An analysis of repressed inflation in two transition economies

✍ Scribed by Andrew Feltenstein; Jiming Ha

Publisher
Springer US
Year
1996
Tongue
English
Weight
868 KB
Volume
29
Category
Article
ISSN
1573-9414

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## Abstract This paper develops a model of inflation targeting in a small open economy under floating exchange rates. The central bank follows a simple Taylor rule to achieve a target inflation rate, and the inflation process itself is determined by an expectations augmented Phillips curve mechanis