Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including …Part I. The frontiers of monetary policymaking. 1. An overview of inflation-forecast targeting -- Part II. Principles … and practices of inflation-forecast targeting. 2. First principles -- 3. Managing expectations -- 4. Nuts and bolts of a …

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT …

for a gradual transition to full-fledged inflation targeting (FFIT) in both countries in the medium term. The implications …

adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …

This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function …. The model highlights problems associated with the practice of setting a series of rigid near-term inflation targets. Also …

Inflation distorts prices, erodes savings, discourages investment,stimulates capital flight, inhibits growth, and makes …-old problem of controlling inflation throughmonetary policy known as ""inflation targeting."" This pamphlet explainsthe …

This paper reviews the first five years’ experience with inflation targeting in the United Kingdom. It concludes that … inflation performance was not significantly different under inflation targeting than predicted by a VAR model estimated in the … predicted, however, which is consistent with the interpretation that some gains in credibility were achieved under the inflation …