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RBA Glossary definition for inflation

inflation – A measure of the change (increase) in the general level of prices.

Search Results

Inflation Targeting and Output Stabilisation

1 Jun 1999 RDP 1999-08
Guy Debelle
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1999/1999-08.html

Inflation Targeting and Output Stabilisation

1 Jun 1999 RDP 1999-08
Guy Debelle
Research Discussion Paper – RDP 1999-08 Inflation Targeting and Output Stabilisation. ... Guy Debelle. June 1999. 135. KB. This paper was prepared for a seminar on ‘Inflation Targeting in Brazil’ held in Rio de Janiero, 3–5 May 1999.
https://www.rba.gov.au/publications/rdp/1999/1999-08/

Theory

31 Dec 1999 RDP 1999-08
Guy Debelle
where π is inflation, π. is the inflation target, y is output, y. ... In this case, there is no trade-off between output and inflation variability.
https://www.rba.gov.au/publications/rdp/1999/1999-08/theory.html

Inflation and Output Variability

31 Dec 1999 RDP 1999-08
Guy Debelle
RDP 1999-08: Inflation Targeting and Output Stabilisation 3. Inflation and Output Variability. ... These frequent transitions between high and low inflation rates increases the variability of inflation.
https://www.rba.gov.au/publications/rdp/1999/1999-08/inflation-and-output-variability.html

Conclusion

31 Dec 1999 RDP 1999-08
Guy Debelle
Download the Paper 135. KB. Inflation targeting has sometimes been criticised for being ‘inflation only’ targeting and ignoring output considerations. ... The design of the inflation-targeting framework also affects the degree of output stabilisation
https://www.rba.gov.au/publications/rdp/1999/1999-08/conclusion.html

Practice

31 Dec 1999 RDP 1999-08
Guy Debelle
A narrower band may be regarded as a stronger commitment to the inflation target. ... This serves to exclude the first-round effects of non-monetary determinants of inflation.
https://www.rba.gov.au/publications/rdp/1999/1999-08/practice.html

Evidence

31 Dec 1999 RDP 1999-08
Guy Debelle
lowering the irreducible variance in inflation (this issue is revisited in Section 5). ... Alternatively, the policy rule can explicitly include forecast values of output and inflation.
https://www.rba.gov.au/publications/rdp/1999/1999-08/evidence.html

Introduction

31 Dec 1999 RDP 1999-08
Guy Debelle
in the long run is the maintenance of a low and stable inflation rate. ... The next section presents a simple model to illustrate the interaction between output and inflation.
https://www.rba.gov.au/publications/rdp/1999/1999-08/introduction.html

References

31 Dec 1999 RDP 1999-08
Guy Debelle
RDP 1999-08: Inflation Targeting and Output Stabilisation References. Guy Debelle. June 1999. ... 1111–1146. Svensson, L. (1997b), ‘Inflation Targeting: Some Extensions’, NBER Working Paper No.
https://www.rba.gov.au/publications/rdp/1999/1999-08/references.html

Three Episodes in Australia's Experience with Inflation Targeting

31 Dec 1999 RDP 1999-08
Guy Debelle
Thus, the rise in interest rates occurred ahead of any increase in actual inflation. ... Table 1: Inflation and Growth. Per cent. Annual inflation. (1). Real GDP growth.
https://www.rba.gov.au/publications/rdp/1999/1999-08/three-episodes-in-australias-experience-with-inflation-targeting.html