models of inflation targeting imply that an optimising central bank should continuously respond to shocks. This paper … bank will have an incentive to wait and see whether or not the economy will move closer to the inflation target of its own …

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 …

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 …

private sector inflation forecasts. But beyond the optimum people might: (1) start to attach too much weight to the … deteriorates the (perceived) quality of private sector inflation forecasts. Inflation then is set in a more backward looking manner … resulting in higher inflation persistence. By using a panel data set on the transparency of 100 central banks we find empirical …

We extend the Svensson (1997a) inflation forecast targeting framework with a convex Phillips curve. We derive an …

Recent cross-country studies on the globalization and output-inflation tradeoff correlation find openness has no … openness on the output-inflation trade off differ in sign and size across countries. In contrast to previous cross …-country studies, we find globalization has significantly changed some major industrialized countries’ output inflation tradeoff. This …

heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

effects of monetary policy on output, inflation and asset prices, the interactions of asset prices with the aggregate economy … of monetary policy to output and inflation is also found to play an important role in stabilizing the aggregate economy …