Inflation targeting needs to be supplemented by an economic growth target so that central banks will not adopt monetary … the inflation rate is kept between two to three per cent. Monetary policy does not have a comparative advantage in … by the monetary authority for the purpose of inflation targeting may not work. The R in NAIRU should stand for "range …

inflation treats only the symptom, not the disease. Trade liberalisation by Japan is superior to yen depreciation as a means of …