, particularly when there is a risk of low inflation, and the policy rate is constrained by the effective lower bound. Model … equilibrium real interest rate, this strategy is preferable to raising the inflation target …

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a … target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic …

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to … monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has …-fledged inflation targeting …

This paper describes the CNB's experience implementing an inflation-forecast targeting (IFT) regime, and the building …

inflation …

of a small macro model with NAIRU uncertainty under different assumptions about the way inflation expectations are formed … inflation expectations respond endogenously to the monetary authorities` track record in delivering low inflation. It is shown … that endogenous policy credibility strengthens the case for forward-looking inflation forecast based rules relative to …

This is the fourth chapter of a forthcoming monograph entitled ""On Implementing Full-Fledged Inflation- Targeting … accountability in an inflation-targeting regime. It first looks at the factors behind the move to increased transparency in recent …

This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes …: Saying What You Do and Doing What You Say." It examines a number of elements in the design of an inflation …-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages …

This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in … monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the …

One of the pioneers of inflation targeting (IT), the Bank of Canada is now considering a possibility of switching to … price-level-path targeting (PLPT), where past deviations of inflation from the target would have to be offset in the future … has strayed little from the path implied by the two percent inflation target since its introduction in December 1994, and …