long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

Inflation target regimes (like those of New Zealand, Canada, U.K. and Sweden) are interpreted as having explicit … inflation targets and implicit employment targets. Without employment persistence, 'an inflation target-conservative' central … bank eliminates the inflation bias, mimics an optimal inflation contract, and dominates a Rogoff 'weight- conservative …

Inflation target regimes (like those of New Zealand, Canada, U.K. and Sweden) are interpreted as having explicit … inflation targets and implicit employment targets. Without employment persistence, 'an inflation target-conservative' central … bank eliminates the inflation bias, mimics an optimal inflation contract, and dominates a Rogoff 'weight- conservative …

In the summer of 2010, the Federal Reserve's and the Swedish Riksbank's inflation forecasts were below the former …'s mandate-consistent rate and the latter's target, respectively, and their unemployment forecasts were above sustainable rates …