Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of … switching from inflation targeting to price-level targeting under imperfect credibility. Following the policy change, private … agents assign a probability to the event that the policy-maker will revert to inflation-targeting next period. As this …

particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared … inflation reduces uncertainty about future price developments. This facilitates decision-making for companies concerning …

The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation … targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting … around the world has been successful in terms of achieving the announced target and keeping inflation rate around it. We …

estimating the effect on overall headline inflation, we examine effects on its 12 main sub-indices and further sub-categories of … food price inflation. This allows us to disentangle differences in the direction and strength of price effects across … consumption categories. Our results suggest significant positive effects of natural disasters on overall headline inflation, with …

investigates to what extent the quality of eligible collateral is able to explain inflation employing the first comprehensive … statistically significant correlation between QEC and average inflation is found. This result is robust to the use of control …

. The risk of future regime shifts has encompassing effects on equilibrium. Inflation is systematically higher than it would … stability. This inflation bias is increasing in the real value of government debt. Regime-switching probabilities are not … interest rate sufficiently moderately when inflation increases. Lower fiscal dominance risk, in turn, mitigates the inflation …