inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

The inflation targeting (IT) regime is 17 years old. With practice of IT now in more than 21 countries, there is enough … evidence gathered to take stock of the IT experience. In this paper, we analyze the inflation record of IT central banks. We … extend the work of Albagli and Schmidt-Hebbel (2004) by looking at a broad range of factors that can influence inflation …

The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in …

The authors investigate the implications of house-price bubbles for the optimal inflation-target horizon using a …, given the distribution of shocks and inflation persistence over the past 25 years, the optimal target horizon for Canada … inception of the inflation-targeting regime. The authors' results also suggest that it may be appropriate to take a longer view …

notion of credibility of monetary policy through expectations of inflation. The USM features a Phillips curve, an IS curve …, and a function representing the reaction of monetary authorities. Expectations of inflation are centred on the inflation … target. The Phillips curve is specified in terms of the output gap and takes the effects of productivity on inflation into …

This paper analyzes the short-run dynamic process of inflation in Canada and examines whether a systematic variation in … the relationship between inflation and output can be detected over time. In the theoretical literature, different models …