What is it about?

This paper considers the impact of monetary policy on the inflation-output variability trade-off for Sri Lanka and in doing so, draws lessons for the formulation of early stage monetary policy in developing economies.

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Why is it important?

Our findings suggest that more recently formed central banks in developing economies should focus on inflation variability, especially where the impact of demand and supply shocks are less persistent.


Writing this article was a great pleasure as it has co-authors with whom I have had long standing collaborations.

Kesavarajah Mayandy
Central Bank of Sri Lanka

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This page is a summary of: Monetary policy and inflation–output variability in Sri Lanka: Lessons for developing economies, Review of Development Economics, September 2021, Wiley,
DOI: 10.1111/rode.12823.
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