stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior … inflation by and large through its key policy rate, though it appears to be accommodative with respect to the output gap. In …

the widely held interpretation of the ECB as an inflation targeter—and a rather soft one, too—it is argued that the key … and inflation persistence that owes to the ECB’s failure to internalize the euro area’s fiscal regime. This raises the … question as to whether inflation targeting would have led to better results, or could do so in future. …

caution, and obsession with low inflation. In looking at the foundations of the two banks’ strategies, however, we do not find …

We consider how judgment and statistical methods should be integrated for time-series forecasting. Our review of … judgment; combining forecasts; revising extrapolations; rule-based forecasting; and econometric forecasting. This literature … the future as well as for the past, we recommend rule- based forecasting or econometric methods. …

underlines to the unappealing small- samples properties of GMM estimators. Focusing on the Federal Reserve reaction function, we … the GMM are biased in small sample, inducing an overestimate of the inflation parameter . The two-step GMM estimates are …

with 97.As a reflection, the inflation rate become double although the decreasing in the monetary expansion. Moreover ,the …