inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

This Selected Issues paper analyzes inflation in Norway with a view to shedding light on this surprising development … and the possible near-term course of inflation, using statistical and econometric analyses. The paper reviews recent … developments of monetary policy and inflation in Norway, applies statistical and econometric tools to identify factors influencing …

This Selected Issues paper for Iceland reports that it faces a considerably less favorable inflation-output variability … of inflation breaching the tolerance band and help to lower the probability of such events occurring. To effectively … target inflation, central banks need to be forward looking, responding early to prospective demand pressures. Having housing …

This paper classifies countries that define their monetary policy framework by an inflation target into full …-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on … indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as …

lowering inflation. Such recent developments have brought to the forefront the idea that freely mobile capital, independent … all three. Inflation-targeting regimes being adopted by many countries provide a way of resolving this dilemma. …

countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray …) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting …