either pricelevel or nominal GDP targeting and compare these regimes to inflation targeting. These interest-rate rules are … domain of attraction of the targeted steady state, volatility of inflation and output and sensitivity to the speed of …

Monetary policy transmission lags create credibility problems for the inflation-targeting policy maker who acts under …: for the period monetary policy influences output, inflation is predetermined and the best discretionary policy is to …

Inflation targeting involves using all available information in stabilizing inflation around some target rate (Svensson …, 2003). Inflation is typically at the very end of the transmission mechanism and hence its de-termination is subject to much …

We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central … Policy Statements is firmly based on targeting the inflation rate in the future we find, using the Bank’s own forecasts, that …