near the zero bound by studying the experience of Japan during the "Lost Decade" which followed the asset-price bubble … collapse in the early 1990s. Estimation results based on a structural model suggest that the Bank of Japan's interest …-rate policy fits a conventional forward-looking reaction function with an inflation target of about 1 percent. The disappointing …

This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time …-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using …

results suggest that under Colombia’s inflation targeting regime, which incorporates exchange rate flexibility and a highly …

policy, along side an inflation-forecast-based monetary policy, could enhance macroeconomic stability in Colombia. The model … simulations indicate that, in addition to stabilizing output and inflation, a stronger response of the fiscal balance to excess …

assess the impact of the exchange rate on domestic prices, in particular as Turkey moves to an inflation targeting regime …

Growth and inflation in Turkey have been volatile over the last two decades. It would, therefore, be useful to identify … indicators that anticipate economic conditions and inflation. This paper investigates the predictive performance of economic … indicators for inflation and real output growth in Turkey. We find that (i) the forecasting ability of individual indicators is …