either pricelevel or nominal GDP targeting and compare these regimes to inflation targeting. These interest-rate rules are … domain of attraction of the targeted steady state, volatility of inflation and output and sensitivity to the speed of …

case of inflation targeting where the monetary policy instrument is set after looking at the current values of inflation … hypothetical scenario of inflation targeting suggests a sharper response of the interest rate (monetary policy instrument) to …

Monetary policy transmission lags create credibility problems for the inflation-targeting policy maker who acts under …: for the period monetary policy influences output, inflation is predetermined and the best discretionary policy is to …

Inflation targeting involves using all available information in stabilizing inflation around some target rate (Svensson …, 2003). Inflation is typically at the very end of the transmission mechanism and hence its de-termination is subject to much …

This article looks at the preconditions that an emerging economy needs to fulfill, before it can adopt inflation … to the independent conduct of monetary policy. This study concludes that inflation band targeting with a wide target …

We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central … Policy Statements is firmly based on targeting the inflation rate in the future we find, using the Bank’s own forecasts, that …

This paper analyzes euro area and U.S. inflation dynamics since the beginning of the 1990s by estimating New Keynesian … hybrid Phillips curves with time-varying parameters. We measure inflation expectations by subjective forecasts from Consensus … results indicate that in both economic areas the inflation dynamics have steadily become more forward-looking over time. We …

This paper examines recent changes in the cyclicality of euro area inflation. We estimate time-varying parameters for … become steeper since 2012. Thus, the current low level of inflation and persistently negative output gap increase the risk … that euro area inflation will stay below the monetary policy target for an extended period. …

supply-side effects into account, we get more persistent inflation and output reactions. We also show that the dichotomy does …, under a discretionary monetary policy, the fiscal policy regime affects the size of the inflation bias. We also show that … commitment to an optimal monetary policy not only corrects the inflation bias but also increases the persistence of output …

We investigate both the rational explosive inflation paths studied by McCallum (2001) and the classification of fiscal …