In this paper, we derive two new measures of international relative prices for Norway. Developments in these new measures follow rather closely movements in the CPI-based real effective exchange rate through the 1990s, but diverge after 2000—suggesting that the costs of living in Norway relative to its trading partners have risen in the recent years more than the r...

In this paper, we derive two new measures of international relative prices for Norway. Developments in these new measures follow rather closely movements in the CPI-based real effective exchange rate through the 1990s, but diverge after 2000—suggesting that the costs of living in Norway relative to its trading partners have risen in the recent years more than the r...

In this paper, we derive two new measures of international relative prices for Norway. Developments in these new measures follow rather closely movements in the CPI-based real effective exchange rate through the 1990s, but diverge after 2000—suggesting that the costs of living in Norway relative to its trading partners have risen in the recent years more than the r...

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks differ...

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks differ...

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks differ...

The Eastern Caribbean Currency Union (ECCU) countries share a common currency, the EC dollar, which has been pegged to the U.S. dollar at the same rate for more than three decades. This paper examines the influence of the peg on ECCU price stability, and analyzes whether absolute Purchasing Power Parity (PPP) holds within the currency union. It shows that U.S. pric...

The Eastern Caribbean Currency Union (ECCU) countries share a common currency, the EC dollar, which has been pegged to the U.S. dollar at the same rate for more than three decades. This paper examines the influence of the peg on ECCU price stability, and analyzes whether absolute Purchasing Power Parity (PPP) holds within the currency union. It shows that U.S. pric...

The Eastern Caribbean Currency Union (ECCU) countries share a common currency, the EC dollar, which has been pegged to the U.S. dollar at the same rate for more than three decades. This paper examines the influence of the peg on ECCU price stability, and analyzes whether absolute Purchasing Power Parity (PPP) holds within the currency union. It shows that U.S. pric...