should respond more than one for one to inflation. This model yields explicit solutions for the optimal rule. We find that … underlying shocks, or which measure of inflation is used. In general the optimal elasticity of the interest rate with respect to … inflation needs not be greater than one. …

inflation restson a consensual distribution of income. Second, authorities should abandon any "optimal rule"designed in order to …

union-wide output and (principally) inflation, neglecting, at least on the level of principles, inflation and output … in particular that it is not necessarily a good thing that a common central bank worries about inflation divergences …

Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period … 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four …

central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …

inflation and wage inflation. We consider a monetary policy rule designed accordingly: the Central Banker can react to both … contracts are considered, wage inflation is also an illegible and efficient target for the Central Banker. …

results in lower performance and heightened probability of accidents. …