policy impacts inflation and real economic developments in China. The results indicate that the conduct of monetary policy in … aims to hit an inflation target by simply controlling the target interest rate. First, China’s monetary policy toolkit is …China’s economic development has been exceptionally robust since the end of the 1970s, and the country has already …

performance in OECD countries. A cross-sectional time-series (TSCS) model for inflation, nominal wage growth and unemployment for … and personnel independence contribute most importantly to a successful inflation policy. Second, a high level of … coordination contributes to moderate inflation rates and unemployment, while union monopoly power tends to increase inflation. …

Monetary policy transmission lags create credibility problems for the inflation-targeting policy maker who acts under …: for the period monetary policy influences output, inflation is predetermined and the best discretionary policy is to …

Both the optimal inflation target and the optimal degree of output stabilization are found to be conditional on the … explicit inflation targeting regime removes inflation bias from monetary policy, but does not remove the trade-off related to … average level of output and output stabilization. In contrast to usual results on inflation targeting, appointing a central …

We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central … Policy Statements is firmly based on targeting the inflation rate in the future we find, using the Bank’s own forecasts, that …

either pricelevel or nominal GDP targeting and compare these regimes to inflation targeting. These interest-rate rules are … domain of attraction of the targeted steady state, volatility of inflation and output and sensitivity to the speed of …

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation … expectations affect both inflation and output, and, on the other hand, how inflation expectations reflect developments in these … variables. The analyses make use of a simple VAR model of inflation, inflation expectations and the output gap that allows for …