the likelihood that they adopt inflation targeting as their monetary policy strategy. We estimate a panel binary response … as the structure and development of its financial system have a significant impact on the likelihood to adopt inflation … targeting. However, the determinants of inflation targeting differ between OECD and non-OECD countries. …

We study inflation targeting under uncertainty. Although uncertainty in the values of structural parameters makes the … whether there exists a policy rule that improves welfare and discover that having a state contingent inflation target is more …

What are the implications of targeting different measures of inflation? We extend a basic theoretical framework of … optimal monetary policy under inflation targeting to include several components of CPI inflation, and analyze the implications … of using different measures of inflation as target variable--core inflation, CPI excluding interest rates, and headline …

This paper examines whether the clarity of central bank communication about inflation has changed with the economic … environment. We use readability statistics and content analysis to study the clarity of communication on the inflation outlook by … explaining their policies when faced with higher uncertainty or a less favorable inflation outlook. The global financial crisis …

Recently, it has often been argued that globalization eases the job of central banks as it helps to tame inflation …-Treaty) could or should reduce their efforts in the fight against inflation in favour of supporting the general economic policies of …

the ECB.s monetary policy credibility as measured by long-term inflation expectations, by looking at their effects on euro … area inflation swap rates of maturities up to 10 years. We consider asset purchase programmes and long-term refinancing … operations with maturities above 6 months. We find that these announcements only led to a slight increase in long-term inflation …

Anchored inflation expectations help stabilize inflation. Previous results indicate that monetary policy has been … effective in breaking the link between actual and expected inflation at the euro area level. In this paper we examine whether … this is also true at the national level. We define the disconnect' between inflation and inflation expectations and then …