potential output growth and the attendant and partly temporary slowdown in inflation. Assessing the NE is however a complicated … long-run perspective, the central bank could capitalise on the NE to set lower inflation targets. In the short to medium …

Monetary union can benefit countries suffering from policy credibility problems if it eliminates the inflation bias and … union may be welfare improving even for low-modest levels of inflation bias (2-3%) as long as business cycles are not too a …

a simple interest-rate rule targeting inflation; and it also allows large adjustments in the money supply, a property …

The recent boom in housing markets of most developed economies has spurred criticism that inflation targeting central …, using a standard program evaluation methodology to correct for a possible bias due to self-selection into inflation … targeting. We consider 17 industrial economies over 1980-2006, among which nine countries have targeted inflation a some dates …

tight inflation-targeting policy can lower expectational complementarity preventing rational exuberance, although its effect …

Reserve (FED) from 1960 until 2006. It suggests that monetary policy accommodated inflation during the 60s and the 70s whereas … the chairmanship of P. Volcker was a turning point toward a more aggressive stance on inflation. In addition, monetary …