inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

might be learnt from the recent experience of inflation targeting at the Bank of England. We consider whether there should … be single or multiple targets and which, if any, of the existing inflation measures should be used. If inflation is …

A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates … consistent with the inflation targets from the yields to maturity on nominal bonds. This results in a target-consistent range of … absolute credibility and credibility in expectation, are distinguished. The credibility of inflation targets of Canada, New …

One test of an exchange-rate peg is to ask whether the implicit inflation target of the pegging country is the same as … that of the anchor country. If the inflation targets of the two countries are different, the peg's long-run credibility …

of flexible inflation targeting (price stability and the highest sustainable employment), including keeping average … inflation over a longer period on target; (2) not adding household debt as a new (intermediate) target variable, in addition to … inflation and unemployment – not “leaning against the wind,” which is counterproductive, but leaving any problems with household …

either price-level or nominal GDP targeting and compare these regimes to inflation targeting. These interest-rate rules are … domain of attraction of the targeted steady state, volatility of inflation and output and sensitivity to the speed of …

expectations data and forward interest rate data used to assess the credibility and predictability of policy under inflation …