Previous analysis of the implementation of inflation targeting is extended to monetary policy responses to different … stabilization or smoothing all call for a more gradual adjustment of the conditional inflation forecast toward the inflation target …. The conditional inflation forecast is the natural intermediate target during inflation targeting. …

The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, 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 …

Price level targeting (without base drift) and inflation targeting (with base drift) are compared under commitment and …

Eurosystem. The P* model implies that inflation is determined by the level of and changes in the "real money gap" (the deviation … inficator for future inflation. Nevertheless, the P* model does not seem to provide any rationale for either a Bundesbank …

aggregate or an index of inflation (either alone or in combination with some measure of the output gap). Because there is a …

The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The … paper provides a general discussion of monetary policy rules, attempts to clarify the essential characteristics of inflation … targeting, compares inflation targeting to other monetary policy rules,and draws some conclusions for the monetary policy of the …