. Starting from the issues and concepts familiar from research and policy experience in the 1990s of inflation targeting - as …

The recent debate over monetary policy strategies concludes that monetary targeting and inflation targeting in practice …

conventional wisdom, it is found that price-level targeting leads to a better trade-off between inflation and output …-gap variability than inflation targeting, when the central bank acts under discretion. In some cases, price-level targeting under … dircretion results in the same equilibrium as inflation targeting under commitment. …

The central bank's optimal reaction to foreign and domestic shocks is analyzed in an inflation targeting model allowing … that the interest rate response to foreign shocks is smaller when pass-through is low. Second, the inflation … rigidity, leads to higher exchange rate volatility. With exogenous nominal price stickiness, part of the required relative …

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 …

index of monetary conditions; dynamic forecasts of inflation; and the relation between inflation and the output gap …

In this paper we study 2-state Markov switching VAR models of monthly unemployment and inflation for three countries …: Sweden, United Kingdom, and the United States. The primary purpose is to examine if periods of low inflation are associated … with high or low unemployment volatility. We find that MS-VAR models seem to provide a better description of the data than …