Evaluating inflation-targeting monetary policy is more complicated than checking whether inflation has been on target …, because inflation control is imperfect and flexible inflation targeting means that deviations from target may be deliberate in … variability of the inflation-gap and output-gap forecasts can be used to evaluate policy ex ante, that is, taking into account the …

target inflation. We find that when the government cannot commit to its policies, the greater transparency of the exchange …

fixes, a reasonably durable regime. However, most of the new stability is due to countries that float with an inflation … target. Though a few have left to join the Eurozone, no country has yet abandoned an inflation targeting regime under duress …. Inflation targeting now represents a serious alternative to a hard exchange rate fix for small economies seeking monetary …

public finances. We show that when the ECB misses its inflation target this has large heterogeneous fiscal consequences for … missing their inflation targets. They are also sizeable …

probability of being a common currency country and outcome' equations for growth, volatility and inflation. We find that both type … of common currency countries have lower inflation than countries with a domestic currency. Dollarized countries have …

activity and inflation as latent variables. We incorporate these latent variables into a factor-augmented vector autoregression … institutional and structural changes that China has undergone. We find that increases in bank reserve requirements reduce economic … activity and inflation, consistent with previous studies. In contrast to much of the literature, however, we find that central …

. But as the global recovery and inflation gained momentum in 2021, liftoff expectations moved up, the Reserve Bank of …