to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential …

to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The … of inflation targeting, compares inflation targeting to the other monetary policy rules, and draws some conclusions for …

is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … future inflation can provide insurance against the materialisation of such upside risks. …

target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the … inflation target and produce a quantitatively significant deterioration of the performance of the economy with targets between 0 … and 1 percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show …

inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist … strategy using finely tuned interest rate moves had proved inadequate for fighting inflation and reversing inflation …