extent to which it is similar to inflation targeting as practiced by an increasing number of central banks. I examine the …

Using a small empirical model of inflation, output, and money estimated on U.S: data, we compare the relative … performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient …, with both higher inflation and output variability. This is true even with a deterministic money demand formulation. In this …

-level stability and low (including zero) inflation and the decisions about the price index, the quantitative target and the role of … inflation-forecast targeting are scrutinized and found unconvincing. …

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the … of the Eurosystem. The choice between inflation targeting and monetary targeting is, in effect, a choice between high and … low transparency. Inflation targeting and monetary targeting, in practice, imply similar policy decisions, but monetary …

level and the dynamics of inflation. I compare the model's predictions with those of a perfectly competitive, flexible price … rigidity delivers an extremely close approximation both of the price/unit labor cost ratio and of the inflation series, even …

over the central bank´s objectives. This informational asymmetry is represented by a stochastic inflation target, upon … discretion and shows that while central banks with high inflation targets never use announcements, central banks with low … inflation targets occasionally, but not always, will choose to reveal their private information through an announcement. A first …

The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward … for monetary policy. The paper compares targeting of CPI and domestic inflation, strict and flexible inflation targeting …, and inflation-targeting reaction functions and the Talyor rule. The optimal monetary policy response to several different …