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 …

This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It … at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates … uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living …

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 …