inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

Norway adopted an inflation targeting framework in early 2001, thus concluding its gradual but consistent move toward … countries that had adopted inflation targeting frameworks prior to Norway. Norway's role as a commodity exporter exposed to …

a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed … inflation expectations respond endogenuously policy credibility strengthens the case for forward-looking inflation forecast …

inflation when there is no perceived commitment to reduce the fiscal deficit. The model is based on a modified version of the … current consumption leads to an equal increase in inflation. The timing of this increase varies with the size of the deficit … inflation. Three policy conclusions are offered. …

some of the area's institutional features, which may impart considerable persistence to area-wide inflation, caution … against shifting to conventional inflation targeting. But the time series evidence also seems to point to a relatively loose … connection between variations in nominal money growth and inflation in the short to medium run. As a consequence, effective …

which have a framework of explicit inflation targets for the implementation of monetary policy. This adaptation should aim …

This paper classifies countries that define their monetary policy framework by an inflation target into full …-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on … indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as …

lowering inflation. Such recent developments have brought to the forefront the idea that freely mobile capital, independent … all three. Inflation-targeting regimes being adopted by many countries provide a way of resolving this dilemma. …