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 …

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker’s disinflation (1979-1982). My … the behavior of inflation expectations - agents expected shocks to persist in the pre-Volcker period, but not in the post …

reducing inflation from three-digit annual rates in the 1990s to single-digit territory in 2004. The paper also discusses the …

. The author shows that viewing the ECB through inflation- targeting lenses is very misleading, since that view does not …

This paper analyzes how imperfect exchange rate pass-through affects the transmission of the CPI inflation targeting … of the real exchange rate for a subset of strict CPI inflation targeting cases and for flexible CPI inflation targeting …. Furthermore, there exists an inverse relation between the pass-through and the insulation of CPI inflation from foreign shocks …

In December 1997, the Czech Republic became the first transitional economy to adopt an inflation-targeting (IT …) framework. This paper addresses two important topics: optimal inflation-targeting horizon and optimal speed of disinflation. A …