flexible exchange rate regimes. Therefore, this paper determines what the alternative strategies inflation targeting, Taylor …

inflation target is subject to unobserved changes. It characterizes the effect of disclosure of forecasts on inflation and … the slope of the Phillips curve, the central bank's preference weight on inflation relative to output and the ratio of the … variability of the inflation target relative to the cost-push disturbance. The paper briefly discusses how disclosure of forecasts …

that fix exchange rates and those that target inflation. Inflation targeting is a more durable policy; no country has yet … been forced to abandon an inflation target, while many have abandoned fixed exchange rates. Indeed, even though inflation … targeting began only in 1990, the duration of inflation targeting regimes is at least as long as, or longer than all alternative …

experience for multilateral options. The actual system is a fragile low-inflation central bank dominated arrangement. Options for …

inflation volatility. The analysis for 75 countries which have adopted MPCs provides some support for the above suggestion …: countries with less than five MPC members tend to have larger deviations from trend inflation than MPCs with five members …

inflation expectations but learns about them from economic outcomes, which are in part the result of the disinflation policy … that under the DOP inflation stay between the levels implied by the CEP and the CP. A novel result is that this holds … irrespective of the initial level of inflation. Moreover, while at high levels of inherited inflation the DOP moves closer to the …

This paper evaluates inflation forecasts made by Norges Bank which is recognized as a successful forecast targeting … central bank. It is reasonable to expect that Norges Bank produces inflation forecasts that are on average better than other … margin. An explanation in terms of too high speed of adjustment to the inflation target is supported by the evidence. Norges …