Central bank can apply different kinds of monetary strategies. This paper analyses monetary strategy from the perspective of intermediate objectives. Right strategy should help to fulfil targeted goals. However, it is not easy to choose right strategy in right moment under certain economic...

This paper investigates the central bank's behaviour in a developing economy through a nominal monetary policy feedback rule (NFR) that embodies an inflation targeting mechanism. Particularly, the Dominican Republic is modelled by allowing the hypothetical NFR to receive feedback from inflation...