The author provides an overview of the 1975–78 Anti-Inflation Program (AIP), in a background document prepared for a … policy response to, inflation in the decade preceding the introduction of the AIP, the author sets out the elements of the … AIP's monetary and fiscal policy, and prices and incomes controls. He then compares the program's inflation objectives …

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 …

-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government … measured by (1 - k), is positively related to trend inflation, and 2) when prices are sticky, k has significant effects on the …

bound is relatively low, especially if the inflation target established for the monetary authority is 2 per cent or more … rate for lower inflation targets. Various caveats apply to drawing conclusions for Canada from the papers we surveyed … credibility. …

Like the gold standard, price level targeting (PT) involves not letting past deviations of inflation be bygones; both … some parameterizations, there is a low credibility equilibrium (with high expectation of a reset) associated with high … output volatility and frequent resets. These problems reduce the expectational advantage of PT over inflation targeting. …

higher welfare than inflation targeting. We revisit this issue by introducing imperfect credibility, which is modeled as …This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect … credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields …

higher welfare than inflation targeting. We revisit this issue by introducing imperfect credibility, which is modeled as …This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect … credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields …

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 …

A vector error-correction Model (VECM) that Forecasts inflation between the current quarter and eight quarters ahead is … found to privide significant leading information about inflation. The model focusses on th effects of deviations of M1 from …