The recent global financial crisis has exposed the limitations of a conventional inflation targeting framework in … and inflation. Possible refinements to the inflation targeting framework in Korea were investigated by taking into account … business cycle fluctuations by mitigating the buildup of factors that lead to large fluctuations in output and inflation. …

Inflation in Southeastern European (SEE) countries has been comparable with euro area inflation, partly owing to on the … inflation-targeting regime pursued in Albania. The analysis also explores additional heterogeneity between SEE and other regions …

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 …

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 targeting is becoming the monetary policy framework of choice in a growing number of emerging market and … developing countries. This paper examines the experience of non-industrial inflation targeting countries to review the …