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

monetary order, based on inflation targets and a flexible exchange rate; (ii) a North American monetary union; (iii) a Canadian …

incorporate exchange rate movements explicitly into their policy rule. With a higher degree of intrinsic inflation persistence …, the central bank of New Zealand seems less concerned about future inflation pressure induced by current exchange rate … movements. In addition, the structure of the shocks driving inflation and output variations in New Zealand is such that it may …

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy … rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important … persistent cost-push pressures in the economy leading to a significant deterioration in the inflation – output gap trade …

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 …

Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major … same country. Two types of monetary policy, inflation targeting (IT) and price level targeting (PT), have very different …