We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

solutions such as the conservative central banker and optimal inflation contracts. Our theoretical model also shows how an … inflation targeting range should be set and how it should respond to changes in the nature of shocks to the economy …

Modern theory has delivered both the conservative central banker and the principal-agent approaches as rationales for … shows not only that greater independence is associated with lower inflation, but also that the central bank's rights not to … finance the government and to set interest rates independently increase its effectiveness. The role of inflation targeting and …

This paper develops and estimates a game-theoretical model of inflation targeting where the central banker …

rates and inflation even in the absence of base money. The paper explores implications for current and future central …

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating …-maximizing central bank should adopt flexible headline inflation targeting a target for headline CPI inflation with some weight on the …

inflation target. The first two strategies restore the Taylor principle as a sufficient condition for stabilizing expectations …. In contrast, in economies with persistent shocks, communicating the inflation target fails to protect against … policy strategy: announcing an inflation target is not enough to stabilize expectations -- one must also announce how this …

focusing inflation targeting that is implemented by a Taylor type rule, a rule that in equilibrium is reflected in the exchange … monetary can't deliver a stationary domestic price level. Another feature in the data for inflation targeting countries that is … direction from PPP in response to an 'inflation' shock - the 'bad news god news' result of Clarida -Waldman (2008;2014). This is …

central banks to control inflation within their borders, at least in the absence of coordination of policy with other central … the ability of monetary policy to control inflation: by making liquidity premia a function of quot;global liquidityquot … central banks to control the dynamics of inflation …