economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

-shaped relation between the membership size of MPCs and inflation; our results suggest that the lowest level of inflation is reached … at MPCs with about seven to ten members. Similar results are obtained for other measures, such as inflation variability …

policy frameworks. It shows that increases in information disclosure have not been confined to inflation targeting but extend … inflation and economic development have undergone larger increases in transparency. Moreover, it shows that greater transparency … has been followed by lower average inflation. …

standard results about a smooth trade-off between inflation and output volatility. Our results are: (i) The policy space …-off between output and inflation volatilities exists within each region and some across regions. (ii) The singularity causes … the volatility of individual consumption and the related volatility of financial markets. We show aggressive anti-inflation …

are ‘highly complementary and mutually consistent objectives’ in a flexible inflation targeting regime which ‘dictates … inflation.’ (BG, 1999, p.18). This conclusion is straightforward within the variant of the NK-DSGE framework used by BG in which … asset inflation shows up as a factor ‘augmenting’ the IS curve. In the present paper, we pursue a different modelling …