and makes it easier for the central bank to meet its inflation target. The threat of deflation and a liquidity trap is … inflation (with base drift in the price level) and price-level stability (without such base drift) are compared, and a suitable … loss function (corresponding to flexible inflation targeting) is discussed, including the index and level for the inflation …

Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate … monetary policy should not be overruled or the high inflation would be repeated. By this logic, the Bank of Japan obtained /de …, the Bank of Japan was able to tighten monetary policy and to contain the inflation rate under 10 percent. The interest …

We present a simple long-run aggregate demand and supply framework for evaluating long-run inflation. The framework …-run inflation as well as transitions between steady states. We use the analysis to provide a fresh perspective on the forces that … drove global inflation downward over the past four decades. We argue that for inflation to remain low and stable in the …

Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing …

The purpose of the mission was to improve the understanding of the conduct of monetary policy in an inflation targeting …

This paper considers the problem of optimal long run monetary policy. It shows that optimal inflation policy involves … trading off two quite different considerations. First, increases in the rate of inflation tax the holding of many balances … of inflation raise capital intensity. As long as the economy has a capital stock short of the golden rule level …

, we document several potential fiscal dominance effects during 2000-2017 under Inflation Targeting (IT), and non …