, while the inflation targeting period is characterized by a convex rule supporting dominant inflation avoidance preferences … on the part of policymakers. Dominant inflation avoidance appears during the Vietnam War in the US while, during the … consistent with an offset by inflation avoidance of the more prevalent recession avoidance of the Fed.Findings from both …

inflation targeting period is characterized by a convex rule supporting inflation avoidance preferences on the part of monetary … policymakers. The inflationary Vietnam war era in the US displays a convex rule supporting inflation avoidance while the stable …