-level stability and low (including zero) inflation and the decisions about the price index, the quantitative target and the role of … a commitment to a simple instrument rule (like a Taylor rule), forecast targeting (like inflation-forecast targeting … against inflation-forecast targeting are scrutinized and found unconvincing. …

Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative … performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient …, with both higher inflation and output variability. This is true even with a deterministic money demand formulation. In this …

important for monetary policy analysis, i.e. inflation, GDP, productivity, employment, labour force, unemployment and financial … usually limited to the first year. Furthermore, we find that the inflation forecasts exhibit several appealing features, such … misjudgements for productivity growth have had effects on forecasts for both inflation and GDP, but the results suggest that the …

in inflation and GDP growth might have been slightly higher if Sweden had been a member of EMU since the launch in 1999 …

The use of explicit inflation targets has meant that monetary policy has become more transparent and also easier to … inflation. Our purpose is to separate the effects on the interest-rate instrument from (i) discretionary changes in the rule for …