The author surveys recent articles on the costs and benefits of price-level targeting versus inflation targeting … how price-level targeting affects the short-run trade-off between output and inflation variability by influencing … expectations of future inflation. The author looks at the implications of this argument for assigning an objective based on price …

2001-06 period, the direct effect of consumer goods imported from China is estimated to have reduced the inflation rate by …

Measures of core inflation enable a central bank to distinguish price movements that are transitory and generated by … core inflation measure called the “trimmed mean” that excludes components with exceptionally large price changes at the …

The author constructs a measure of core inflation using a structural vector autoregression containing oil-price growth …, output growth, and inflation. This "macro-founded" measure of inflation forecasts total inflation at least as well as other …

global inflation. The process of globalization has motivated much debate over whether global factors have become more … important in driving the inflation process. Since commodity prices respond to global demand and supply conditions, they are a … potential channel through which foreign shocks could influence domestic inflation. The author assesses whether commodity prices …

of inflation lower than 2 per cent, and whether economic welfare might be improved by moving from an inflation …